Posts Tagged ‘recession’

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    Healthcare and Baumol’s Disease

    Sep 11, 11 • 297 Views • 1 Comment

    Asked why healthcare is relatively expensive while cell phones are not, you could answer, “Baumol’s Disease.” Described by New Yorker columnist James Surowiecki, to play Mozart’s String Quartet in G minor in 1787 and now, we need 2...  [read more]

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    Government Failure or Market Failure?

    Sep 4, 11 • 253 Views • No Comments

    The illness? High unemployment and sluggish growth. The patient? The U.S. economy. And sometimes, according to Nobel Laureate Gary Becker, a stimulus pill just won’t work. In a WSJ opinion piece, Dr. Becker first explains that government misdiagnosed...  [read more]

  • Job Gains in Texas and Losses in Caifornia and Florida

    Home Work

    Sep 3, 11 • 277 Views • No Comments

    More unemployed means more people at home. One study asked, what are the unemployed doing? During every day’s “foregone market work hours,” unemployed people are occupied with home production, leisure, and job search. The day’s time...  [read more]

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    Double Dips

    Aug 7, 11 • 266 Views • No Comments

    We do not know whether a double dip has begun. Cascading during 2008 and the first half of 2009, the GDP then began to climb. Only if it drops again will we have a double dip. In the NY Times, financial journalist Floyd Norris does a beautiful job of...  [read more]

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    Looking at the Debt Ceiling

    May 16, 11 • 193 Views • No Comments

    Today, at this moment, we might be hitting the debt ceiling. During the past 11 years, Congress has voted to raise the debt ceiling 10 times. In 2000, the ceiling was approximately $6 trillion; in 2011, it was just above $14 trillion. The whole story is here,...  [read more]