Daily Archives: June 6, 2009
Forgetting What We Learned
ILLITERACY IN HIGH PLACES by Paul Craig Roberts If a person lives long enough, he can watch everyone forget everything they learned. Everyone includes Federal Reserve Chairmen, economists, Bank of America “strategists,” and even Bloomberg.com. Federal Reserve Chairman Ben Bernanke … Continue reading
Jobs: Even Less Is ‘Made in America’
There are many reasons the U.S. manufacturing sector has been in decline. In GM’s case, the cuts reflect the long slide in the company’s sales and market share. Job automation and competition from countries with lower wage rates contribute to … Continue reading
Moral or Ethical Immaturity Is Rampant
Stanford University economics professor and former Treasury Undersecretary John B. Taylor has shown how the proposed additional U.S. government debt could cause 100 percent inflation over the next few years, which means most people will see their real standard of … Continue reading
Poking Holes in a Theory on Markets
“In their desire for mathematical order and elegant models,” he wrote in his firm’s quarterly letter to clients earlier this year, “the economic establishment played down the role of bad behavior” — not to mention “flat-out bursts of irrationality.” He … Continue reading →