November 17th, 2014
in Op Ed
by Rick Ackerman, Rick's Picks
The newspaper business is in a state of collapse, undermining the very health of democracy in America in ways that I shall explain. From a financial standpoint, the fatal problems of newspapers are well known, having begun with the encroachment of web-based advertising on crucial sources of revenue, most particularly classified ads. Adding to this problem is the death spiral of brick-and-mortar retail, a failure that has all but killed the big display ads that used to spread across two full pages. Newsprint and delivery costs have soared as well.
by Richard M. Ebeling, mises.org
Eighty years ago, in the autumn of 1934, Ludwig von Mises's The Theory of Money and Credit first appeared in English. It remains one of the most important books on money and inflation penned in the twentieth century, and even eight decades later, it still offers the clearest analysis and understanding of booms and busts, inflations, and depressions.
by Dirk Ehnts, Econoblog101
Paul Krugman has voiced his view on monetary theory again in a recent column in the NY Times:
Some background: More than seven years have passed since the housing bubble burst, and ever since, America has been awash in savings - or more accurately, desired savings - with nowhere to go. Borrowing to buy homes has recovered a bit, but remains low. Corporations are earning huge profits, but are reluctant to invest in the face of weak consumer demand, so they're accumulating cash or buying back their own stock. Banks are holding almost $2.7 trillion in excess reserves - funds they could lend out, but choose instead to leave idle.
And the mismatch between desired saving and the willingness to invest has kept the economy depressed. Remember, your spending is my income and my spending is your income, so if everyone tries to spend less at the same time, everyone's income falls.
Reading for pleasure as a child has been powerfully linked in research to the development of vocabulary and maths skills up to the age of 16. But does reading still have a part to play in the breadth of our adult vocabulary? Does it matter what kind of books you read, or is it just the amount of reading that counts?