Beyond GDP: Get Ready For A New Way To Measure The Economy
by“A balanced Input-Output framework…provides a more accurate and consistent picture of the U. S. economy.” – Survey of Current Business Starting in spring 2014,…
GDP
The adverse effects of monetary stimulation
byA number of people have asked me to expand on how the rapid expansion of money supply leads to an effect the opposite of…
The 80/20 rule
byRecent statistics are confirming “economic recovery” in the UK and even some of the weaker eurozone states. I put this in quotes, because what…
Mark Carney’s false ideology
byNeil Macdonald of the CBC recently did an investigative piece on central bankers and what they’re doing to the world’s economies. Mark Carney was featured heavily….
The myth of austerity
byMany politicians and commentators such as Paul Krugman claim that Europe’s problem is austerity, i.e., there is insufficient government spending. The common argument goes like this: Due to…
Is the “fiscal cliff” a threat to the US economy?
byThe US Congressional Budget Office (CBO) said on August 22nd that scheduled tax increases and spending cuts in 2013 would reverse the current modest…
The unseen hand
byThe assessment of economic growth based on Gross Domestic Product is a fallacy, because GDP is merely a measure of the amount of money…
The paradox of choice
byHere is a puzzle for Keynesian and other neo-classical economists. When a consumer buys something, he must choose; and if he increases his purchase…
The way forward for Greece
byLast Monday night, before the US markets opened after President’s Day, bailout terms for Greece were announced. The detail is secondary to assessing whether…
The fallacy of economic growth
byThe most important objective for any government is to achieve economic growth. Out of this growth develops employment and taxes to fund government itself….