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Wednesday, June 26, 2013

US Q1 GDP Growth Revised down to 1.8 Percent on Falling Exports

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Today’s GDP report from the Bureau of Economic Analysis revised the estimate for Q1 growth sharply downward, from 2.4 percent to 1.8 perc...
Monday, June 24, 2013

The Economics of the Good Life: A Critique of Growth

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In the first part of my review of Robert and Edward Skidelsky’s How Much is Enough ? I looked at the puzzle of leisure. Why, the Skidelsk...
Monday, June 17, 2013

Solving the Mystery of Keynes' "Mistaken" Prediction: Why Don't we Work Less and Take More Leisure

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Robert Skidelsky is best known for his definitive three-volume biography of John Maynard Keynes. It hardly surprising, then, that he begin...
Friday, June 14, 2013

Case Study in Hyperinflation: Venezuela on the Brink

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The Central Bank of Venezuela recently reported an inflation rate for May of 6.9 percent, equivalent to an annualized rate of more than 100...
Wednesday, June 12, 2013

Breakup of the Ruble Area (1991-1993): A Cautionary Tale for the Euro

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Good news: The euro crisis is over. At least that is how French President Francois Hollande sees it, according to remarks he made during hi...
Monday, June 10, 2013

Why Latvia's Decision to Join the Euro Makes Sense

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Last week’s convergence report from the European Commission gave Latvia the green light to become the eighteenth member of the eurozone a...
Friday, June 7, 2013

US Labor Market Shows Moderate Gains in May

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The US labor market continued its gradual improvement in May. The economy added 175,000 new payroll jobs, somewhat more than in March and ...