235. Reading "conservative"

August 31, 2009 § Leave a comment

Worthwhile to read “over there” to know some of what is happening to opinion in the US. The anger is combined with ideology and belief rather than any economic realism about the current world. But interesting, intersting, to see how it works, and to force better analysis from any progressive side. After all, it is not working. Now what?

Backyard Fence.


234. Halting Recovery Divides America in Two – WSJ.com

August 31, 2009 § Leave a comment

Building onthe previous..

The U.S. recovery is a tale of two economies.

At one extreme of Corporate America is a cadre of companies and banks, mostly big, united by an enviable access to credit. At the other end are firms, chiefly small, with slumping sales that can’t borrow or are facing stiff terms to do so.

On Main Street, there are consumers with rock-solid jobs — but also legions of debt-strapped individuals struggling to keep their noses above water.

This split helps explain the patchiness of the recovery that appears to be taking hold after the worst recession …

via Halting Recovery Divides America in Two – WSJ.com.

233. More On The Two-Track Economy

August 31, 2009 § Leave a comment

We have proposed this for a few years: the core getting richer, the outer getting poorer and being drained of cash.. The fact that employment as we knew it is not returning sets the conditions. What will happen?

The Baseline Scenario

What happened to the global economy and what we can do about it

More On The Two-Track Economy — From The WSJ And Others

with 138 comments

via More On The Two-Track Economy — From The WSJ And Others « The Baseline Scenario.

232. This by Krugamn is just terrific

August 31, 2009 § Leave a comment

On the difficult task of overcoming the corpoations and the lobbyists..

We tend to think of … a huge army of lobbyists permanently camped in the corridors of power, with corporations prepared to unleash misleading ads and organize fake grass-roots protests against any legislation that threatens their bottom line, as the way it always was. But our corporate-cash-dominated system is a relatively recent creation, dating mainly from the late 1970s.And now that this system exists, reform of any kind has become extremely difficult. That’s especially true for health care… The health insurance industry … has become a political behemoth, one that is currently spending $1.4 million a day lobbying Congress. .

via Economists View.


August 23, 2009 § Leave a comment

Must read essay. By Doug Rushkoff

We must stop perpetuating the fiction that existence itself is dictated by the immutable laws of economics. These so-called laws are, in actuality, the economic mechanisms of 13th Century monarchs. Some of us analyzing digital culture and its impact on business must reveal economics as the artificial construction it really is. Although it may be subjected to the scientific method and mathematical scrutiny, it is not a natural science; it is game theory, with a set of underlying assumptions that have little to do with anything resembling genetics, neurology, evolution, or natural systems.


230. Sustainability would win now

August 23, 2009 § Leave a comment

Proposition: that people would already, now, vote for sustainable solutions, including painful ones, if the politicians offered them. The politicians don’t, not because the people don’t want it, but because vested interests of many kinds resist.

229. Ping Chen, Ph.D. Homepage

August 18, 2009 § Leave a comment

Ping Chen, Ph.D. Homepage.

This fellow is amazing

The Adam Smith dilemma discovered by George Stigler in 1951, i.e., the Smith theory of invisible hand and perfect competition is incompatible with the Smith theorem on the division of labor limited by the market extent which implies market monopoly. Proposed a trade-off between stability and complexity based on the new science of complexity. Proposed a generalized Smith theorem that the division of labor is limited by the market extend, resource diversity, and environment fluctuations (1999-2002);

see also

Ping Chen at PKU | The Economist

Ping Chen_Chen, Ping_EN_北京大学中国经济研究中心

Unveiling the Secrets of the American Economic Boom in the 1990s/Recommended Reading – Beijing International MBA at Peking University

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