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Keyword: economics

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  • The Rich Are Getting Richer; So Are the Poor

    11/05/2011 12:46:45 PM PDT · by MichCapCon · 22 replies
    Mackinac Center for Public Policy ^ | 11/4/2011 | Jarrett Skorup
    “No matter your thoughts about the Occupy Wall Street movement, the protesters are right in at least one respect: The rich are getting richer, and the poor are getting poorer.” Variations on this statement have been repeated in dozens of blogs, commentaries and even news reports over the past several weeks. The claim comes via a Congressional Budget Office analysis showing that incomes for the top 1 percent of Americans grew by 275 percent between 1979 and 2007, while the lowest 20 percent saw their inflation-adjusted incomes grow by “only” 18 percent. ... The actual empirical evidence cited has been...
  • Obamas 9-9-9 Tax Cut | For 999'ers

    11/02/2011 9:06:04 PM PDT · by NaturalBornConservative · 12 replies
    Natural Born Conservative ^ | October 30, 2011 | Larry Walker, Jr.
    ***2nd Revision***Even our brightest may be deceived! ~Anonymous -By: Larry Walker, Jr. -Continued from: 3rd Concern with the 9-9-9 Plan -Mr. Cain’s main argument against the fact that his plan redistributes wealth from the poor to the rich is that, “it does no such thing.” But what does that mean? Simply stating “it does no such thing” doesn’t satisfy the anxiety. The real concern is that since the top 1% of income earners pay 38% of all income taxes, and because the 9-9-9 Plan reduces their tax rate by 74%, while at the same time exempting empowerment zone residents, that...
  • A brilliant interview with New York University law professor Richard Epstein

    10/30/2011 9:11:34 AM PDT · by ventanax5 · 11 replies
    NewsHour anchor Jeffrey Brown explained that in the segment correspondent Paul Solman "gets a contrarian view, suggesting inequality in a free market system may not be as bad as advertised." The guest was New York University law school professor Richard Epstein.
  • The Tale of the Dueling Economists (Keynes and Hayek)

    10/29/2011 2:34:17 PM PDT · by reaganaut1 · 36 replies
    New York Times ^ | October 22, 2011 | NANCY F. KOEHN
    JOHN MAYNARD KEYNES and Friedrich Hayek. The names conjure opposing poles of thought about making economic policy: Keynes is often held up as the flag bearer of vigorous government intervention in the markets, while Hayek is regarded as the champion of laissez-faire capitalism. What these men actually thought — about the economy and each other — is more complicated, as Nicholas Wapshott demonstrates in “Keynes Hayek: The Clash That Defined Modern Economics” (W. W. Norton, $28.95). This lively book explores one of the most pressing economic questions of our time: To what extent should government intervene in markets? And in...
  • Reagan Supply-Sider Takes on Critics of Cain 999 Plan

    10/19/2011 8:42:05 AM PDT · by rbmillerjr · 12 replies
    The Every Day Conservative ^ | Oct., 19, 2011 | RB Miller
    Full Text of Article (less graphics) follows: Laffer Shoots Down Critics on Cain 999 for WSJ In an Opinion piece for the Wall Street Journal, Supply Side economist and Reagan advisor, Art Laffer, looks at the number and concludes it is real stimulus for the American economy. Cain's plan will bring in the same revenue as the current tax code on a "static basis." This means that given no assumptions for extra "dynamic" growth, the 999 Plan will meet revenue needs. But, Laffer strongly believes that the Cain Plan will bring in more due to the intrinsic economic positives of...
  • Age-old ‘distributism’ gains new traction

    10/18/2011 8:36:07 PM PDT · by MeNeFrego · 80 replies · 1+ views
    Washington Post ^ | 10/18/2011 | David Gibson
    NEW YORK — Can an Anglican theologian from Britain revive an 80-year-old Catholic social justice theory and provide a solution to America’s economic woes and political polarization? Philosopher and political thinker Phillip Blond thinks so, and he’s giving it everything he’s got. Blond, who has been a counselor to British Prime Minister David Cameron, just wrapped up a two-week U.S. tour to pitch his retooled version of “distributism,” a theory that argues that both capitalism and government are out of control. In that sense, the thinking goes, both Occupy Wall Street and the Tea Party are right...

    10/18/2011 5:53:27 AM PDT · by blam · 28 replies
    TBI ^ | 10-18-2011 | Joe Weisenthal
    <p>The number is out, and it's HOT!</p> <p>PPI hs jumped 0.8%, well above the 0.2% analysts had expected.</p> <p>Core PPI, which excludes food and energy, was only up 0.2%, which is still above the 0.1% that analysts had expected.</p> <p>The culprit? Blame food and energy.</p>
  • Herman Cain: The Goal Of Liberals Is To Economically Destroy The United States

    10/16/2011 7:45:08 PM PDT · by Mozilla · 55 replies
    Herman Cain ^ | 10-16-11 | Josh Feldman
    On Meet the Press today, Herman Cain explained to David Gregory why he believes that liberals in the United States are invested in seeing the country fail and would do anything to see its destruction. Cain argued that if the economic situation was to get any worse, “it would destroy our economic capability,” and from that the United States would have to look at making cuts in defense spending, which Cain seemed to imply were not on the table for him. Gregory asked the candidate to clarify if he truly meant liberals would be implicit in the destruction of America,...
  • New Nobel Laureate Warned Against Obama Stimulus Package, Calling It ‘Surprisingly Naïve’

    10/10/2011 9:50:25 AM PDT · by maggief · 10 replies
    NYSun ^ | October 10, 2011 | IRA STOLL
    No matter how skeptical one is of the authority of “experts,” it’s hard to avoid paying at least some attention to the people who award the Nobel prize — especially when they give one to someone who tends to support some things one tended to believe already. So it is in the case of Thomas Sargent, the New York University professor who was announced Monday as a winner of the Nobel in economics. An interview of Professor Sargent by the Minneapolis Fed in August 2010 summed up some of his contributions succinctly: “policymakers can’t manipulate the economy by systematically ‘tricking’...
  • 2011 Nobel Prize in Economics (my title)

    10/10/2011 7:46:42 AM PDT · by Zionist Conspirator · 6 replies ^ | 10/10/'11 |
    The Royal Swedish Academy of Sciences has decided to award The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2011 to Thomas J. Sargent New York University, New York, NY, USA and Christopher A. Sims Princeton University, Princeton, NJ, USA "for their empirical research on cause and effect in the macroeconomy"
  • Milton Friedman on greed --- An old Phil Donahue show video

    10/09/2011 10:33:55 AM PDT · by dennisw · 9 replies
    youtube ^ | 1979 | Milton Friedman clear and cogent, Freidman demolishes Phil Donahue. Greed and the lies of politicians who claim they are not greedy but are above it
  • Cain: Racism Is Not Holding Anyone Back

    10/09/2011 1:00:43 PM PDT · by justsaynomore · 64 replies
    CNN State of the Union ^ | 10/9/11 | CNN
    Presidential candidate Herman Cain said Sunday that he didn’t believe racism was a major factor holding minorities back in America, asserting instead that African Americans had a level playing field on which to advance economically. “I don't believe racism in this country today holds anybody back in a big way,” Cain said on CNN’s “State of the Union.” “Are there some elements of racism? Yes. It gets back to if we don't grow this economy, that is a ripple effect for every economic level, and because blacks are more disproportionately unemployed, they get hit the worst when economic policies don't...
  • Japan Government Announces $156 billion Spending Plan (Rebuilding)

    10/06/2011 8:19:54 PM PDT · by mnehring · 2 replies
    TOKYO—The Japanese government and ruling party agreed plans on Tuesday to spend 12 trillion yen ($156 billion) through the forthcoming new stimulus package and to rely less on tax increases than initially envisioned to cover the cost of post-quake reconstruction.... ...The stimulus package is slightly bigger than the government's initial estimate. It would pay for steps to rebuild areas hurt by the March 11 earthquake and tsunami as well as measures to soften the impact of the yen's recent rise on the country's export-reliant economy. Separately, the government now plans to raise ¥7 trillion, instead of an initially planned ¥5...
  • Refuting the economics behind the 'rich don't pay their fair share' fallacy

    10/05/2011 2:00:33 PM PDT · by NevadaPolicyResearchInstitute · 7 replies
    Write on Nevada ^ | October 5, 2011 | Victor Joecks
    See yesterday's post for a refutation of the "rich don't pay their fair share" fallacy. Today, I'd like to address the economic philosophy behind that statement and why it is also wrong. The unstated, underlying economic assumption that many leftists make is that the rich have to pay their "fair share," because the rich are wealthy only because they have taken from society or the poor and that government must right that wrong through taxes or "spreading the wealth around." Nothing could be further from the truth. What's amazing about free-market capitalism is that the way you get rich is...
  • CBOE (Chicago Board Options Exchange) Is In Talks With Other States On Move - CEO

    10/01/2011 3:06:21 PM PDT · by re_tail20 · 14 replies
    NASDAQ ^ | Sept. 30, 2011 | Jacob Bunge
    The parent of the Chicago Board Options Exchange has held talks with a number of governors and state officials about a possible move of its headquarters to another state after Illinois raised its tax rate, providing another challenge to the city's status as the self-styled "derivatives capital of the world." January's tax increase is seen increasing CBOE Holdings Inc.'s (CBOE) state tax bill by a quarter. Chicago-based CME Group Inc. (CME), the world's largest futures exchange operator, is also talking about relocating its headquarters. "We've had a series of meetings with people in this state and outside this state," said...
  • She's Baaaaack!

    09/26/2011 8:19:38 PM PDT · by Sick of Lefties · 29 replies · 1+ views
    Noman Says ^ | 9/26/11 | Noman
    She's Baaaaack! No sooner does Noman think he's done with Elizabeth Warren than she leaps into the fray with yet more provocative material. This woman is a living, breathing blog-op. It's worth taking time to address her for several reasons. First, she's a walking compendium of Liberal certitudes whose cocksure righteousness causes her to effuse pristine formulations of Statist credal beliefs. Secondly, she's a Chaired Harvard Law Professor, which attests to her position at the top of the profession's food chain, and highlights the beliefs that animate the nation's preeminent reservoir of legal wisdom. Finally, she's a perpetual menace to...
  • Greece vows to stay in the Euro, never go bankrupt

    09/25/2011 1:02:52 AM PDT · by AnAmericanAbroad · 30 replies
    Zee News ^ | 25 September, 2011 | Staff
    Greek Finance Minister Evangelos Venizelos sought to reassure nervous markets and EU partners on Saturday by pledging his debt-ridden country would do whatever it takes to avoid default and stay in the euro zone. During an IMF meeting in Washington that was dominated by fears that Greek debt woes could trigger a wider European crisis, threatening banks and hurting the world economy, Venizelos dismissed any talk of bankruptcy.
  • Amazing speech by Bill Whittle at Beverly Hills Tea Party

    09/24/2011 9:47:52 AM PDT · by ventanax5 · 11 replies
    The Right Scoop ^ | Bill Whittle
    Bill Whittle spoke the other day at the Beverly Hills Tea Party and I must say it was excellent. When he began he said that his job was to scare us to death and then explain why he has so much hope for us overcoming the big problems we face. I’m not sure he succeeded on the former, but definitely the latter. He broke the speech up into seven categories that he believes most Tea Party members would agree on and then elaborated on them, some at great length. The seven categories are limited government and free enterprise, distrust of...
  • Modern Monetary Theory

    09/20/2011 8:53:43 AM PDT · by PeterPrinciple · 23 replies
    The Agonist ^ | The Agonist
    Modern Monetary Theory - An Overview I’ll try to provide brief, working definitions to everything below. Before I dig in, I just want everyone reading to know that I'm not an economist, I am not an expert on anything pertaining to economics, and for all I know everything I'm about to tell you is dead wrong and I'm an idiot. Now, with that out of the way: In my recent travels around the internet, I happened across the blogs of Bill Mitchell and Warren Mosler, which discuss Modern Monetary Theory (MMT). MMT is a macroeconomic theory which tries to explain...
  • Soros fingerprints all over protests here, too (Israel)

    09/10/2011 7:49:06 PM PDT · by opentalk · 15 replies
    WND ^ | September 8, 2011 | Aaron Klein
    TEL AVIV –The Democrat strategist identified as an architect of the social protests currently rocking Israel previously ran the campaign of Bolivia's former president, who was ushered into office amid escalating social protests in that country.After Gonzalo Sánchez de Lozada took power in Bolivia in 1985, he quickly implemented an economic "shock therapy" crafted by Jeffrey Sachs, a Columbia University professor who sits on the board of an organization literally seeking to reorganize the entire global economic system. That group is the Institute for New Economic Thinking, or INET.Philanthropist George Soros is INET's founding sponsor, with the billionaire having provided...