The Economic Future of The Berkshires – A Reconsideration

January 14th, 2017
in macroeconomics

by Elliott Morss, Morss Global Finance

Editor's note:  While this analysis is specific to the Berkshires, it has elements in common with many rural areas in the U.S. that are experiencing economic retrenchment and population declines.

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Basic Macroeconomics of Income Distribution Cannot Explain Today’s Rising Inequality

January 13th, 2017
in macroeconomics

by Philip Pilkington

I was recently looking over the debates surrounding the Pasinetti theorem and I thought it might be worth writing a few words on it. Pasinetti formulated his theorem — which is dealt with in detail in a fantastically thorough Wikipedia article — in 1962 in response to Nicholas Kaldor’s seminal paper Alternative Theories of Distribution.

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2017 Forecast: Skeptically Optimistic

January 12th, 2017
in uncategorized

by John Mauldin, Thoughts from the Frontline

“Quantity is being confused with abundance and wealth with happiness.” – Tom Waits

“The shift from sailing ships to telegraph was far more radical than that from telephone to email.”– Noam Chomsky

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What Should Trump Do With Free Trade?

Written by

Water is necessary for your health. Drink too much water and you can get hyponatremia. It is very serious, and can be fatal. Too much of anything is not good. President-elect Trump believes one of the major problems in the economy is too much free trade.

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Keynes’ Liquidity Preference Trumps Debt Deflation in 1931 and 2008

January 6th, 2017
in history, macroeconomics

by Philip Pilkington

Fixing the Economists Article of the Week

I have pointed out before that the meaning of the term ‘liquidity trap’ has today become completely altered — with said alteration mainly coming from Paul Krugman’s bizarre redefinition which seems tied up with his idea about a natural rate of interest and the central bank being unable to hit this natural rate due to their coming up against the zero-lower bound.

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