What is Progress?

In my last post I gave several reasons why I think the ‘good society’ is a useful concept. There is another reason. The concept of a ‘good society’ may help us to think more clearly about progress.

What is the problem with progress? I am just about old enough to remember the 1950s when . . . → Read More: What is Progress?

Ben Bernanke and the Great Recession of 2008/2009

Writing an op-ed for NY Times, Nouriel Roubini discusses the role of Ben Bernanke in this year’s recession (link).

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Jobs Growth in Chicagoland

The Chicago ISM survey of area purchasers was released on Wednesday. The purchasers manager’s index (PMI) rose sharply, up nearly 4 points to 60.0. This Chicagoland index has now posted gains for three months straight — all at accelerating rates (60.0 Dec, 56.1 Nov, 54.2 Oct).

The new orders have also held to over . . . → Read More: Jobs Growth in Chicagoland

Protectionism, Recession, Recovery: Looking Back and Looking Forward

In thinking of protectionism, the Great Depression, the Great Recession, and what might come next, here are two interesting angles.

Governments with their backs against the wall

Ideally, stabilisation using monetary and fiscal policy, alongside actions by the private sector, should restrain the decline in consumption, and yield conditions which are not too harsh . . . → Read More: Protectionism, Recession, Recovery: Looking Back and Looking Forward

Mister Sunshine Predictions

Brian Wesbury is one of the more optimistic professional economists out there. He’s proud of being dubbed “Mr. Sunshine.” Wesbury is chief economist at First Trust Advisors of Chicago and his assessments on the economy are quite in line with what you read here at the Good News Economist day after day.

He even . . . → Read More: Mister Sunshine Predictions

Quantifying Eurozone Imbalances and the Internal Devaluation of Greece and Spain

Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.

Churchill 1942

Summary

The extent, so far, of the internal devaluation process depends on the time period used for analysis. Using Q3-2007 as the beginning . . . → Read More: Quantifying Eurozone Imbalances and the Internal Devaluation of Greece and Spain

Christmas Week Data Points to Rosy 2010

Last week markets were subdued as many economists and investors on Wall Street and Main Street took several days off to prepare for holiday celebrations.

The data that did arrive was mostly reminiscent of the spirit of St Nick – slipping coinage into stocks without their owner’s knowledge.

A report on the . . . → Read More: Christmas Week Data Points to Rosy 2010

Third Round Of Gold Upleg Ready To Start

The recent gold upleg has proceeded fairly predictably based on previous trends.  Like the Octrober correction and consolidation the December correction and consolidation has laid a firm foundation for the third round of the upleg.

FIRST ROUND

With gold trading around $995 on 9 September 2009 in Gold Party Barely Started I wrote, “This . . . → Read More: Third Round Of Gold Upleg Ready To Start

The Most Influential Global Thinkers

Foreign Policy composed the rank of the most influential global thinkers (link).

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Five Questions on Asset Prices and Monetary Policy

Howard Davies was a deputy governor of the Bank of England, and the first head of the UK FSA. He is one of the world’s leading thinkers on financial regulation and monetary policy, and one of the people who combines skills in both finance and monetary economics. In a recent article, he focuses on . . . → Read More: Five Questions on Asset Prices and Monetary Policy