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Keyword: economics

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  • Even the intellectual left is drawn to conspiracy theories about the right. Resist them.

    07/14/2017 4:35:15 PM PDT · by 2ndDivisionVet · 7 replies
    Vox ^ | July 14, 2017 | Henry Farrell and Steven Teles
    It’s always hard in politics for people to take their opponents’ views seriously, but it has become ever harder in Trump’s America. People are more engaged with politics, but only because they want to beat the other side, not understand it. This means scholars have a greater responsibility than ever to help ordinary citizens understand how the people with whom they disagree think, and what their political opponents are actually doing. Most scholars get this. For example, political scientists and historians, who tend to range from the political center to the left wing, have written extensively about the origins and...
  • Bewitched, becalmed, bewildered {Economics}

    07/07/2017 6:00:14 AM PDT · by Mechanicos · 10 replies
    PJ Media ^ | July 7, 2017 | Richard Fernandez
    In the first decade of the 21st century Western economic growth entered the doldrums. The question was why. Former Harvard president Larry Summers noticed that something changed after the 2008 financial meltdown. The economic spring which had always bounced back had lost its elasticity. He diagnosed it as secular stagnation. .... Most observers expected the unusually deep recession to be followed by an unusually rapid recovery .... Had the American economy performed as the Congressional Budget Office fore­cast in August 2009—after the stimulus had been passed and the recovery had started—U.S. GDP today would be about $1.3 trillion higher than...
  • Happy 87th birthday (June 30) to economist Thomas Sowell

    07/03/2017 8:20:49 AM PDT · by Hawthorn · 24 replies
    AEI Ideas ^ | June 29, 2017 | Mark Perry
    In my opinion, there is no economist alive today who has done more to eloquently, articulately, and persuasively advance the principles of economic freedom, limited government, individual liberty, and a free society than Thomas Sowell. In terms of both his quantity of work (at least 40 books and several thousand newspaper columns) and the consistently excellent and crystal-clear quality of his writing, I don’t think any living free-market economist even comes close to matching Sowell’s prolific record of writing about economics.
  • The James Baker-George Shultz Carbon-Tax Plan Is a Bad Deal for Americans

    02/14/2017 10:49:26 AM PST · by SeekAndFind · 10 replies
    National Review ^ | 02/14/2017 | Rupert Darwall
    The fact that it’s being proposed by Republicans doesn’t make it any more economically palatable. Madness is rare in individuals — but in groups, parties, nations, and ages it is the rule — Friedrich Nietzsche ‘Cap and trade was just one way of skinning the cat; it was not the only way,” Barack Obama declared after Democrats’ disastrous losses in the 2010 midterm elections. That shellacking finally killed off the Waxman-Markey cap-and-trade bill. From it was born the EPA’s Clean Power Plan and the Obama administration’s war on coal, in turn a contributory factor to Donald Trump’s election and Republicans’...
  • Chomsky's Venezuela Lesson

    05/31/2017 5:45:47 AM PDT · by Kaslin · 28 replies
    Townhall.com ^ | May 31, 2017 | John Stossel
    Venezuela descends into chaos. Its people, once the wealthiest in Latin America, starve. Even The New York Times runs headlines like "Dying Infants and No Medicine." My Venezuelan-born friend Kenny says his relatives are speaking differently. Cousins who once answered "Fine" or "Good" when asked, "How are you?" now say, "We're eating." Eating is a big deal in the country that's given birth to jokes about a "Venezuelan diet." A survey by three universities found 75 percent of Venezuelans lost an average 19 pounds this year. So are American celebrities who championed Venezuela's "people's revolution" embarrassed? Will they admit they...
  • The Keynesian Cult Has Failed: "Emergency" Stimulus Is Now Permanent

    05/25/2017 7:04:40 PM PDT · by Lorianne · 9 replies
    Of Two Minds ^ | 23 May 2017 | Charles Hugh Smith
    Can we finally admit that eight years of following the Keynesian coloring-book have not just failed, but failed spectacularly? ___ What do we call a status quo in which "emergency measures" have become permanent props? A failure. The "emergency" responses to the Global Financial Meltdown of 2008-09 are, eight years on, permanent fixtures. Everyone knows what would happen if the deficit spending, money-printing, zero interest rates, shadow banking, asset purchases by central banks and all the rest of the Keynesian Cult's program stopped: the status quo falls apart. Keynesianism Vs The Real World Let’s start by reviewing the core contexts...
  • The Arrogance of Blue America

    05/01/2017 10:07:18 AM PDT · by amnestynone · 4 replies
    The Dailey Beast ^ | 4/30/17 | Joel Kotkin
    n the wake of the Trumpocalypse, many in the deepest blue cores have turned on those parts of America that supported the president’s election, developing oikophobia—an irrational fear of their fellow citizens. The rage against red America is so strong that The New York Time’s predictably progressive Nick Kristoff says his calls to understand red voters were “my most unpopular idea.” The essential logic—as laid out in a particularly acerbic piece in The New Republic—is that Trump’s America is not only socially deplorable, but economically moronic as well. The kind-hearted blue staters have sent their industries to the abodes of...
  • Negative Balance of Trade? So What?

    05/01/2017 9:56:07 AM PDT · by rey · 5 replies
    FEE ^ | 1 May 2017 | Robert Higgs
    The tendency of the USA to have a negative balance of trade (more accurately known as a negative balance on current account) played a prominent role in the recent U.S. presidential campaign. Donald Trump criticized this tendency repeatedly and promised that if elected he would take various actions to reduce or eliminate it. Like most members of the public, Trump views this negative balance as a highly undesirable, economically damaging condition. Despite the prominence of discussions of the negative balance of trade in recent times, however, it is likely that few people really understand much if anything about the system...
  • Citigroup warns a Donald Trump victory will cause global recession

    08/28/2016 2:45:09 PM PDT · by Lorianne · 93 replies
    Economic Collapse News ^ | 26 August 2016 | Andrew Moran
    If Republican nominee and real estate billionaire mogul Donald Trump pulls out an impossible victory against Hillary Clinton in November then prepare yourself for a global recession. This is the latest warning from Citigroup. The financial institution believes that markets would enter into chaos and the global economy would collapse because of policy uncertainty. Here is what Citi Chief Economist Willem Buiter opines (courtesy of Bloomberg): “A Trump victory in particular could prolong and perhaps exacerbate policy uncertainty and deliver a shock (though perhaps short-lived) to financial markets. Tightening financial conditions and further rises in uncertainty could trigger a significant...
  • "Buy American, Hire American" Is Anti-American

    04/28/2017 3:15:42 PM PDT · by rey · 10 replies
    FEE ^ | 28 Apr. 2017 | John Tamny
    Whether it's WalMart, Safeway, CVS, or any other kind of local or national retail chain, the norm nowadays is for customers to swipe loyalty or "customer care" cards during checkout. Membership is a way for customers to accrue purchasing points, receive email alerts about future buyer discounts, and most often reduced prices on certain goods selected at time of purchase. Why do retailers offer these deals? Are they feeling extra generous, or are they oblivious to profits? Not a chance. We Appreciate Your Business Retailers reward their loyalty-card swiping clientele simply because knowledge of the buying habits of their customers...
  • Modern Economics: Trumponomics, Politics and The Import Export Bank…

    04/14/2017 11:49:22 AM PDT · by Bratch · 2 replies
    The Last Refuge/Conservative Treehouse ^ | April 13, 2017 | sundance
    President Trump has expressed support for the continuation of the Import/Export bank. This has seemingly shocked a few people from conservative circles because the modern conservative doctrine has been to oppose the I/E bank. However, Trump’s position hopefully does not come as a surprise to CTH readers because we identified a year ago how President Trump’s economic policies would seek to refocus the original intent of the Import Export Bank. The key aspect is to return the IE to its “original intent“; not the bastardized Wall Street construct that exists today as a result of corrupt DC economic policies driven...
  • Why Republicans Cant Fix the Big Problems

    04/13/2017 8:05:37 AM PDT · by Alex Baker · 10 replies
    American Thinker ^ | April 13, 2017 | Bryce Buchanan
    The moral sentiments of the population determine what political leaders are willing to do. The moral sentiments of a country may be consistent with reality or may be based on Utopian *fantasies, but, either way, they control public policy. To illustrate, lets examine the concepts “earn” and “deserve”. In reality, material products and human services are the product of human labor. Food and shelter, for example, do not exist in nature ready for your use. Medical care does not exist in nature. Humans must work to create these things. This is not a situation that was devised by mean people....
  • California Cities' Pension Tab Seen Almost Doubling in 5 Years

    04/10/2017 11:56:20 AM PDT · by Oldeconomybuyer · 17 replies
    Bloomberg ^ | April 10, 2017 | by Romy Varghese
    California cities and counties will see their required contributions to the largest U.S. pension fund almost double in five years, according to an analysis by the California Policy Center. Including the costs paid by cities and counties that run their own systems, the fiscal 2018 tab will be at least $13 billion to meet retirement obligations for public workers, according to the analysis, which is based on actuarial reports and audited financial statements. Barring any changes to pensions, "several California cities and counties will find themselves forced to slash other spending," the group wrote in its report. "The less fortunate...
  • Minimum wage myth bumps painfully into reality

    04/10/2017 7:13:19 AM PDT · by Oldeconomybuyer · 58 replies
    Washington Examiner ^ | April 10, 2017 | By Alex Pappas
    It seemed like a done deal that Baltimore would make it illegal to work for or offer a job for less than $15 per hour. The city's new mayor, Catherine Pugh, had campaigned as a supporter of raising the minimum wage, and the city council passed the measure to require wages in the city 50 percent higher than those in the rest of Maryland. But on March 31, in what many activists are denouncing as a betrayal, Pugh vetoed the measure. "I want people to earn better wages," Pugh told the Wall Street Journal, which recently took an interesting local...
  • San Diego's new minimum wage already may be killing jobs

    04/06/2017 7:07:24 AM PDT · by Oldeconomybuyer · 13 replies
    The San Diego Union-Tribune ^ | April 6, 2017 | by Dan McSwain
    Evidence has emerged of an economic dark side to San Diego’s decision last year to vault over the state minimum wage — it may have already destroyed thousands of jobs for low-wage workers even as higher pay helps tens of thousands of others. Consider the restaurant industry, for example, which economists study because it relies on low-wage workers. Amid an abrupt slowdown in growth, nearly 4,000 food-service jobs may have been cut or not created throughout San Diego County from the beginning of 2016 through February of this year. “This was at a time when both overall economies performed similarly...
  • What’s Not To Like?

    03/08/2017 7:14:59 AM PST · by Sean_Anthony · 4 replies
    Canada Free Press ^ | 03/08/17 | Bob Christie
    If POTUS Trump can deliver on much, even if not all of his promises, which Americans would be worse off? In the final months leading to election day November 8, 2016 the whole world was anticipating Hillary Clinton would be the next POTUS. If you took a poll of people in every one of the 200 or so countries on the planet not one would have predicted a Trump victory. Some folks believe that down deep inside even Donald Trump was reluctantly resigned to defeat.
  • Here’s how most Venezuelans lost an average of 19 pounds in 2016, and how to make sure it...

    02/21/2017 1:09:09 AM PST · by grundle · 19 replies
    wordpress ^ | February 21, 2017 | Dan from Squirrel Hill
    Here’s how most Venezuelans lost an average of 19 pounds in 2016, and how to make sure it doesn’t happen again in 2017 In early 2017, a nationwide survey of the people of Venezuela showed that during the year 2016, almost 75% of the population had lost weight due to not having enough food, and that their average weight loss was 19 pounds.Before I explain how this came to happen, I want to start out by explaining what did not cause this to happen.Many media outlets have been blaming Venezuela’s food shortages on the 2014 collapse in the price of oil....
  • Lady Iniquity in an Ephah...Zechariah pt 7

    Then the angel that talked with me went forth, and said unto me, Lift up now thine eyes, and see what is this that goeth forth. And I said, What is it? And he said, This is an ephah that goeth forth. He said moreover, This is their resemblance through all the earth. And, behold, there was lifted up a talent of lead: and this is a woman that sitteth in the midst of the ephah. And he said, This is wickedness. And he cast it into the midst of the ephah; and he cast the weight of lead upon...
  • Jim Rogers Prophesizes Death of Cash (hint: it will be 'glorious socialism')

    02/14/2017 9:02:03 AM PST · by indthkr · 27 replies
    RT ^ | 2/14/17
    The time will come when you won't be able to buy a cup of coffee without being traced, warns investment guru Jim Rogers. To control people, governments will increasingly seek to hunt down cash spending, he adds. “Governments are always looking out for themselves first, and it's the same old thing that has been going on for hundreds of years. The Indians recently did the same thing. They withdrew 86 percent of the currency in circulation, and they have now made it illegal to spend more than, I think it's about $4,000 in any cash transaction. In France you cannot...
  • Why All Protectionists Are Essentially Luddites

    02/07/2017 4:56:55 AM PST · by Tolerance Sucks Rocks · 169 replies
    Foundation for Economic Education ^ | January 24, 2017 | Donald J. Boudreaux
    It’s well-known among people who bother to learn the facts that U.S. manufacturing output continues to rise despite the reality that the number of Americans employed in jobs classified as being in the manufacturing sector peaked in June 1977 and has fallen, with very few interruptions, ever since.Nevertheless, some people – for example, the Economic Policy Institute’s Robert Scott – continue to insist that the loss of manufacturing jobs in the U.S. is largely due to increased American trade with non-Americans. Other studies find empirical evidence that labor-saving innovation rather than trade is overwhelmingly responsible for the loss of manufacturing...