When Christopher Nolan was promoting his previous film Interstellar, he made the casual observation that “Take a field like economics for example. [Unlike physics] you have real material things and it can’t predict anything. It’s always wrong.” There is a lot more...
As incurable optimists, human beings look for silver linings in the darkest of clouds. It’s an admirable trait, but some silver linings are illusions. Spotting them requires the economic way of thinking. In the wake of a natural or manmade disaster, such as Hurricane...
As Hurricane Harvey, now tropical storm Harvey, makes its way across the southern US, estimates have already come in as to the cost of the storm. According to AccuWeather, Harvey is expected to cost upwards of $190 billion in damages, one percent of the national GDP....
President-elect Donald Trump's proposed $1 trillion infrastructure spending program promises “accelerated economic growth.” But an analysis of data from the IMF's World Economic Outlook database revealed that more government spending is not the path to economic...
Well, government spending never has increased economic growth. (Part one of two) President-elect Donald Trump proposed a new $1 trillion infrastructure spending and tax cut package which his campaign promised is “a golden opportunity for accelerated economic growth...
Trump’s plan is what Keynes would have prescribed! Most economic commentators such as a Nobel Laureate Paul Krugman should be delighted with the US president-elect Donald Trump’s economic plan for it is going to be along the lines of Keynesian economics. One of...
