• Not Always Dismal

    Feb 10 • Thinking Economically • 218 Views

    From assorted sources, I share the following:
    1. Poetry on the housing crisis from Karl Case (the Case in Case-Shiller Home Price Index)
    An excerpt:
    Fannie and Fred were always ahead,
    Then Countrywide got in the fray.
    Then Lehman and Merrill and Goldman Sachs
    Couldn’t be kept away.
    You can guess that MBS
    Helped make the trading brisk.
    Investors thought that the paper they bought
    Was traunched with well-measured risk.
    To that, add leverage and default swaps,

    2. From Yoram Bauman (an economist/comedian), some economic humor:
    Knock knock.

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  • PIIGS at the Trough

    Feb 9 • Thinking Economically • 232 Views

    Debt can be complicated.
    1.National borrowing is good.
    It leads to growth and recovery.
    In 1792, Alexander Hamilton said that a national debt could be a blessing. In 1936, John Maynard Keynes said that debt was good. Each realized that using someone else

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  • Silent Salons

    Feb 8 • Thinking Economically • 198 Views

    The Spanish Society of Authors (SGAE) receives a steady stream of income from Spain

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  • Equal Pay For Equal Work?

    Feb 7 • Gender Issues, Households, Labor • 251 Views

    Having read that “Women Now A Majority In American Workplace” (NY Times, 2/6/10, A10), I wondered how much the wage differential had changed from the 1980s when women’s weekly earnings averaged close to 70 percent of men’s. The Institute for Women’s Policy Research had some interesting numbers in a recent publication.

    1. On average, men earn more than women. Looking at the 500 occupations in which data has been analyzed, only five have women earning as much or more than men.
    2. Women’s earnings as a percent of men’s: 79.94 percent (Women/$638 v. Men/$798)
    3. Women earn less than men in the ten most common jobs women hold.
    4. In high paying occupations, women earn less than men.
    5. Examples of median weekly earnings (2008):
    Secretaries: Women/$638 Men/$798
    Elementary school teachers: Women/$871 Men/$994
    Pharmacists: Women/$1647 Men/$1914
    Lawyers: Women/$1509 Men/$1875

    The Economic Lesson
    Labor force statistics include Participation Rates. Defined as a statistic that compares the size of the labor force to its potential total, female participation rates recently have been 60 percent while male participation rates were close to 75 percent. Figures are for 2008 from the Census Bureau’s 2010 Statistical Abstract, Table 579.

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  • The Visible and the Invisible

    Feb 6 • Thinking Economically • 189 Views

    Supporting free trade in 1978, Milton Friedman (1912-2006) referred to

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