Category: "macroeconomics"

What Constitutes a Money Crank?

I’ve been asking myself that question rather a lot in the past two weeks. This is because I have had two separate commissions for pieces of writing that require me jump down the rabbit hole into the land of the money cranks. One piece is for a magazine and is about gold bugs and their ilk more »

Marginalist Microeconomics: The Path to Totalitarian Tyranny

May 19th, 2017
in history, macroeconomics

Kevin Hoover, although not generally well-known in Post-Keynesian circles, is easily one of the most interesting economists writing on epistemology and ontology today. more »

How to Drink from a Firehose

May 18th, 2017
in macroeconomics

Basic economics tells us all resources are scarce, but our demand for them is not. Hence we need methods to allocate the limited supply of each resource. A significant part of economics is the study of those methods. more »

Making Sense of the Sterling Depreciation of 2007-2008

Something rather strange happened in Britain around the time of the financial crisis. The sterling tanked, import prices rose substantially and yet the inflation rate didn’t respond as much as we might assume. more »

Angst in America, Part 7: The Angst of the Millennial Generation

May 12th, 2017
in demographics, employment, macroeconomics

“Being young and having no job remains stubbornly common. Wages for young people fortunate enough to get a job have gone down. Inflation-adjusted wages for young high school graduates were 11 percent higher in 2000 than they were more than a decade later, and inflation-adjusted wages of young college graduates (four years only) have fallen by more than 5 percent. more »




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