Topic: Economic Growth

“Put Off Badly Needed Budget Cuts? Austerity Doesn’t Mean No Growth” – Reynolds

– January 19, 2011

The Times’ real point was to argue that, “Whatever the sum .. . cutting billions would be foolish at a time when joblessness is high and the recovery needs stimulus, not tightening. … Spending cuts need not and should not start today, but the nation …


“Does Government Spending Affect Economic Growth” – Mercatus

– January 19, 2011

“Government spending, even in a time of crisis, is not an automatic boon for an economy’s growth. A body of empirical evidence shows that, in practice, government outlays designed to stimulate the economy may fall short of that goal. Such findings have …


Selgin’s ‘Less Than Zero’: Required Reading for Central Bankers

– January 10, 2011

“By chance I came across two articles today that are wildly optimistic about global economic growth in the future. First, via Karl Smith, I see that Robin Hanson is talking up the possibility of a robot-induced “singularity” in the future that will rad …


“Plosser Says Fed May Need to Slow Purchase of Bonds”

– December 23, 2010

“The Federal Reserve may need to slow or stop its purchases of U.S. Treasuries in response to an accelerating U.S. economy next year, Philadelphia Fed President Charles Plosser said. “If the growth rate of the economy continues to strengthen and looks …


“Brazil Economists See Faster Inflation in 2010, 2011”

– November 22, 2010

“Brazilian economists raised their forecast for inflation this year for the tenth consecutive week, as food costs pressure consumer prices further beyond the government’s target. Consumer prices will rise 5.58 percent this year and 5.15 percent in 2011 …


“Mahathir Says Currency Trading ‘Silly’, Advocates Return to Peg”

– November 16, 2010

“Former Malaysian Prime Minister Mahathir Mohamad, who fought off an attack on the ringgit with capital controls during the Asian financial crisis, said currency trading is “silly” and the world should return to the Bretton Woods System of fixed exchan …


Messynomics and the Troubles with Money – Peter Boettke

– October 19, 2010

“Money is non-neutral, and the capital structure in an economy consists of combination of heterogeneous capital goods that multiple-specific uses. Once these propositions are included in the analysis, along with other messy aspects of the real world, o …


Capital and Interest: A Critical History of Economical Theory

– September 20, 2010

“The intentionally limited task to which I intend to devote myself in the following pages is that of writing a critical history of the theoretical problem of interest. I shall endeavour to set down in their historical development the scientific efforts …


“Regulators Tighten Bank Capital Rules”

– September 13, 2010

“Global authorities have settled on their punishment for banks’ role in the financial crisis: a future encumbered by the burden of significantly heavier reserves that will impede the impulse to seek profit through excessive risk taking. Senior regulato …


“Less than Zero: The Case for a Falling Price Level in a Growing Economy”

– August 4, 2010

“Not long ago, many economists were convinced that monetary policy should aim at achieving ‘full employment’. Those who looked upon monetary expansion as a way to eradicate almost all unemployment failed to appreciate that persistent unemployment is a …


Summer Reading III

– July 22, 2010

According to Reinhart and Rogoff, “for the advanced economies during 1800-2008, the picture that emerges is one of serial banking crises.” In This Time is Different, the authors bring us up to the present by examining the history of banking crises. Ban …


“Fed’s Fisher sees slower U.S. Growth Ahead”

– July 6, 2010

“In the second half of 2010, the U.S. will experience “slower economic growth than we’ve had in the first and second quarter,” Fisher told the Japanese business daily Nikkei. He estimated U.S. growth of 2%-3%, saying that the figure will likely come “c …