Keynes vs. Hayek

Freidrich Hayek and the Austrian school of economic policy argue for a laissez faire approach to the economy – emphasizing individual actions and criticizing government intervention. John Maynard Keynes acknowledged that economies could, over time, correct themselves, but argued that government had a responsibility to intervene and stimulate demand when the economy is in . . . → Read More: Keynes vs. Hayek

Doug Casey: Uranium, Rich People's Food Hold Value

Worldwide hysteria and the fear factor notwithstanding, Casey Research Chairman Doug Casey still considers nuclear power “by far the safest, cheapest and cleanest form of mass power generation.” Sharing his views in this Energy Report exclusive on the eve of a sold-out Casey Research Summit in Boca Raton, Florida, . . . → Read More: Doug Casey: Uranium, Rich People’s Food Hold Value

Rust Belt Ball

City… region….city…region….

See the USAToday with the most ill-conceived thesis ever in this article today: Indians, Tigers, Pirates and Reds fighting population loss in the Rust Belt.

Does anyone in the world really think Pirates’ attendance problems (worst in the NL according to the article) have anything at all to do with population loss . . . → Read More: Rust Belt Ball

Kicking the wheels of the new CPI

Inflation measurement is a critical component of macroeconomic policy. In a recent paper, Patnaik et. al. have argued that while the CPI-IW has many problems, these difficulties are not first order, and that the CPI-IW can yield a reasonable measure of inflation today.

On 18 February 2011, CSO released a new CPI with base . . . → Read More: Kicking the Wheels of the New CPI

Economic Events on April 29, 2011

At 8:30 AM EDT, the monthly Personal Income and Outlays report for March will be released. The consensus for Personal Income is an increase of 0.3% over the previous month and the consensus Consumer Spending index change is an increase of 0.5%.

Also at 8:30 AM EDT, the Employment Cost Index for the first . . . → Read More: Economic Events on April 29, 2011