So, as and when we get our next recession how big should the stimulus be to get us out of the recession? And what exactly should be done? I don’t agree with part of this paper here. I am convinced that even assuming the aggregate demand argument is correct that tax cuts are the way to go. But that’s a prejudice driven by my suspicion of the efficiency with which government spends money. The other part of the argument here I agree with.…See More
Isn’t this the most lovely surprise – supply and demand applies even to Farmers’ Markets. Those little diagrams at the beginning of absolutely every economics textbook are true, a realistic representation of the way humans behave in this, our, universe. That is, the number of people willing to buy overpriced vegetables exists, but is small, rather smaller than can support the number of people willing to sell at those high prices.
Gosh, who would have thought it?…See More
A group of – no one knows how large a group of – Google’s contract workers have decided to agitate against their terms of employment. That’s fine of course, we’ve all the right to make our own decisions about our employment – argue, accept, move on, whatever. But for all that Google’s supposed to be where all the smart people go to work these guys do seem to be more than a little ignorant. For their major demand rather ignores the very point and definition of contract workers in the first place.…See More