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John Maynard Keynes: The long run is a misleading guide to current affairs. In the long run we are all dead More commonly written as “in the long-run we are all dead” putting the quote in wider context makes it more reasonable. Fundamentally all this tells us is that the long run (when prices can […]
After a stong September, business confidence collapsed in October with a net 42% of firms stating that the economy is going to reverse. Most indicators deteriorated markedly – and this appears to provide clear evidence that recent credit market uncertainty has convinced businesses enough is enough, and a full readjustment in employment and activity levels […]
Complaining about inflation now may seem to be similar to the captain of a boat complaining about pushing the engine too hard when the ship is sinking – but I’m going to do it anyway 😉 Bank in September Fred Mishkin wrote an article for the Wall Street Journal (ht Economists View and Greg Mankiw). […]
What happened in the HLFS – let me make some guesses. So I’m guessing that quarterly employment declined this quarter – and pretty sharply, following last quarters large increase. This series is truly jumpy as hell – did the participation rate fall as well 😛 And let me guess, all the banks are saying that […]
In the same post that Dr Doyle commented on, Andrew W linked to an article which he wanted us to discuss here (article is here). As a critique of applied economics I accept the article (as there is definitely issues associated with the desimenation of economic tools into policy making), as a critique of economic […]
In its eternal quest to “not be evil” Google has decided to take on one of the banes of man – himself, and his time-inconsistency. It is doing this by introducing a new service to gmail. You can set up this service to significantly increase the transaction cost associated with sending an email when you […]