Economic Thinkers

Starting with Adam Smith and The Wealth of Nations, continuing to Malthus, Ricardo, Keynes, Hayek, Friedman, Sen and others, the timeless ideas of economic thinkers provide understanding of the contemporary economy.

  • 16268_3.24_000012425958XSmall

    Replacing Broken Windows

    Mar 24, 11 • 257 Views • No Comments

    During a CNBC interview, former Treasury Secretary Lawrence Summers said that Japan’s massive earthquake “…may lead to some temporary increments, ironically, to GDP, as a process of rebuilding takes place.” Commenting on the interview,...  [read more]

  • 16256_3.19_000002678850XSmall

    Disaster Economics

    Mar 19, 11 • 269 Views • No Comments

    Assume an economy has been steadily growing. Then a natural disaster strikes, maybe a hurricane, an earthquake, or a tsunami. How is growth affected? While conclusions differ slightly, the consensus indicates that after 5 years and sometimes much sooner,...  [read more]

  • 16169_8.26_000005651286XSmall

    Getting the Most From Our Money

    Feb 3, 11 • 248 Views • No Comments

    In 2020, according to the World Health Organization, traffic fatalities will be the second leading cause of deaths in the world. Moreover, in the U.S. alone, approximately 57 million birds are killed by cars annually. (from Cool It, p. 154) So, asks Bjorn...  [read more]

  • 16167_2.2_000010554668XSmall

    When is 60 a Good Grade?

    Feb 2, 11 • 218 Views • 1 Comment

    At 60.8 percent, the Institute for Supply Management’s (ISM) measure of manufacturing activity was way up, far more than anyone expected. Reflecting expansion, any number above 50 is good. So robust a number takes us to a question. If production is...  [read more]

  • 16163_1.31_000010231504XSmall

    Grandma and the City

    Jan 31, 11 • 258 Views • No Comments

    In the U.S. 81% of us live in a city. Saying that cities generate more wealth, productivity and innovation, Brookings’ Research Director Alan Berube and Harvard’s Edward Glaeser applaud urbanization. In China, though, Grandma might not be so...  [read more]