Page 41 - Paul Samuelson News Today

Will Mario Draghi’s Center Hold? A closer look at the Italian prime minister’s career reveals how the tangled history of post-Keynesian economic thought shaped his technocratic brand. Mario Draghi on March 10th 2021 (Samantha Zucchi/Insidefoto/Mondadori Portfolio via Getty Images) Italy’s new Prime Minister Mario Draghi has been hailed as the nonpartisan expert the country needs to get its house in order. But who is Draghi? A closer look at his car...

The Triumph of Politics Over Science After World War II, as the economy was converted from a garrison state to meet civilian needs, economists predicted dire times. Just as after World War I, conventional academic wisdom saw no upside to the end of wartime spending that, according to academic legend, ended the Great Depression. A sweeping Republican victory in the Congressional election of 1946 had ended the economic regime of wartime government planning and spending. Dropping from 42% of GDP t...

We have decades of real-world experience with Keynesian economics. The results are not pretty.It didn’t work for Hoover.It didn’t work for Roosevelt.It didn’t work for Japan.It didn’t work for Europe.It didn’t work .03/11/2021 15:42:06PM EST.

Economic activity was devastated in Argentina during the fateful year of 2020. Official data records a 10% contraction, the largest decrease on the continent alongside Peru, if the Venezuelan catastrophe is not taken into account. In 2002, when Argentina collapsed, the fall was only slightly worse at 10.9%. Inflation is high (38.5% over the last 12 months and picking up), the peso continues to devalue, Central Bank reserves stand at less than $3 billion and four out of every 10 Argentines live ...

Why the transtasman income gap is larger than it appears 26 Feb, 2021 05:00 AM 13 minutes to read The transtasman income gap is larger than it appears. Photo / Getty Images The transtasman income gap is larger than it appears because not only do we earn less, but also we get less value for our money. Whats the answer? By Professor Tim Hazledine. I teach economics at the University of Auckland. One day in late May 2009, near the nadir of the global financial crisis (GFC), I was...

There’s No Logic In Delaying Induction Of Private Parties And Making Covid Vaccines Available For A Price by R Jagannathan - Feb 22, 2021 06:07 AM Faster vaccine rollout needed. We cannot allow the best laid plans of babus, mice and men to constrain our fight to roll out the vaccine faster than we had earlier thought was needed. We have to induct the private sector, and also start pricing the vaccine for those who can afford it. “When the facts change, I change my mind – and w...

Investment adviser Allan Roth argues for a simple investment strategy of three total market funds, rebalanced over time; then he explains the catch.

Gross Domestic Product: GDP is the “total value of everything produced in a country.” GDP is the mother of all economic indicators because it “gives information about the size of...

by Aravindan Neelakandan - Feb 9, 2021 09:54 AM The cover of Pankaj Jain’s book Science and Socio-Religious Revolution in India: Moving the Mountains. Snapshot d harmic fraternity cutting across sects, communities and even nations. Science and Socio-Religious Revolution in India: Moving the Mountains. Pankaj Jain. Routledge Focus. 120 pages. $57.53. There are many books on science and religion, but there is hardly a book on dharma and science in academia. There is also no serious study o...

When the facts change, economist John Maynard Keynes would change his mind. The RBA has confirmed its own change of mind on rates, jobs and wages.