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The Fraudulent News Network gets caught admitting the putative Putin-Trump connection is "bullshit" and a "witch hunt" that mendaciously garners big ratings:
In addition to ruling the academic and professional roosts, Keynesians control the public mind. The monetarists (ie Milton Friedman) aren't impervious though, even if their spiritual leader is: Combined interest in the Austrian triumvirate is still dwarfed in comparison to what is directed towards the princeps Keynes and Friedman:   Economics is apparently like mechanics... Read More
Maryland Congressman Chris Van Hollen on the Paul Ryan budget plan: What bizarre rhetoric for a US politician in one of the country's major political parties to use. Everything we buy that is not subject to government price controls, directly or indirectly, is "rationed" by income. In the vernacular, this simply means the thing in... Read More
About a month ago, Pew Research released the results of a word association survey it conducted in late April. Word association is by some distance removed from anything actionable, but the survey is nonetheless useful in calibrating common perception with the actual feelings of various groups of people. A few instances of this follow.- Awhile... Read More
In a recent Econ Talk podcast, host Russ Roberts and guest Garett Jones discussed the relationship between an economy's health and worker productivity, pointing to the real business cycle theory introduced in the early eighties by Edward Prescott and Finn Kydland. RBC theory predicts that during economic slowdowns, productivity will drop because innovation is sparse... Read More
The market descension and Obama's ascension are clearly linked. The conventional take is that when people see their 401(k)s and IRAs losing one-third of their valuations in a span of two weeks, they become angry and direct that anger at whoever is in the Whitehouse. As Randall Parker has reminded us on several occasions, the... Read More
Radio hosts Neal Boortz and Laura Ingraham, presumably among several others, have been defending private oil as it's harangued by Congressional critters Maxine Waters and Dick Durbin. They say it's not profit but profit margins that are relevant to discussions on gouging and unfair pricing.Well, margins have also been tracking upwards for oil producers (unlike... Read More