Archive for November, 2012
Lowering government spending in ’93 boosted the economy because of the economic conditions at the time.
Very high capital costs
Very high interest rates
Businesses operating with very high utilization of capacity (But still not investing more because capital costs were so high.)
The thinking was that if government stopped borrowing, interest rates…
Lowering government spending in ’93 boosted the economy because of the economic conditions at the time.
Very high capital costs
Very high interest rates
Businesses operating with very high utilization of capacity (But still not investing more because capital costs were so high.)
The thinking was that if government stopped borrowing, interest rates…
Highlights from Jeffrey Sachs’ The Price of Civilization: Reawakening American Virtue and Prosperity
I have recently been reading Jeffrey Sachs’ The Price of Civilization: Reawakening American Virtue and Prosperity. I figured instead of trying to paraphrase, I would do a post of a selection of my highlights. Here they are thus far:
A society of markets, laws, and elections is not enough if the…
Read MoreImagine America as a big pizza party. There is one big pizza with 100 slices and 100 people. This party divvies the pizza up according to net worth. The wealthiest person in the room collects 35 slices. The next four wealthiest take 28 slices.
The next five wealthiest get 14 slices. The following…
Obama’s election is just what this country needs. America is no longer the wild frontier where every man is for himself. A couple of things have caught my eye as this election unfolded.
It amazes me how the republican/conservative machine has been able to manipulate a large section of their base…