Pat Rock on Sep 8th, 2009How Did Economists Get It So Wrong
Nobel Economist Paul Krugman takes the time to detail a brief history of macroeconomics and what it has to do with our current situation:How Did Economists Get It So Wrong? - NYTimes.com.
And Friedman certainly never bought into the idea that mass unemployment represents a voluntary reduction in work effort or the idea that recessions are [...]
Pat Rock on Aug 14th, 2009Douglas Rushkoff: ECONOMICS IS NOT NATURAL SCIENCE
Douglas Rushkoff: Economics Is Not Natural Science.
Always great stuff from Douglas Rushkoff:
On the perceived immutability of markets and economics:
It’s not. It’s a product not of nature but of engineering. And to treat the market as nature, as some product of purely evolutionary forces, is to deny ourselves access to its ongoing redesign. It’s as if [...]
Pat Rock on Dec 9th, 2008Volker Warns of Tough Times Ahead
Paul Volker is Back!
Of course everyone is warning of tough times, its the percentage shot, but Volker is actually talking about something different. Amazingly he is calling a spade a spade and saying that American consumption, which drives 70% of the economy, needs to be reigned in:
A child of the Great Depression and a [...]