Stimulus payments to consumers is analogous to dumping frosting onto a cake mix, before the ingredients have been mixed and baked. All elements of the economy, from raw materials, to intermediate goods, to consumer goods, must return to a supply-demand balance before the economy can gain Krugman’s “traction.” That necessarily takes time, because mining companies and other producers of basic raw materials have time scales for increased output and employment that are very different from the time scales of intermediate goods producers and consumer goods manufacturers.
Contents contributed and discussions participated by Erin Hamson
The Business Cycle: Krugman vs. Austrian Economic Theory - 0 views
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Keynesian economics, as expounded by New York Times columnist Paul Krugman, is essentially a black box theory. Stand on the outside of the economic box and dump into it endless baskets of inflationary fiat money, and things supposedly just happen automatically inside the black box to produce permanent prosperity and near zero unemployment.
Free Exchange « Krishna's Mercy - 0 views
Entertainment: More people are watching movies online, but few are buying them - latime... - 0 views
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tudio executives say they're optimistic that particular headache will be resolved soon. But the pay channels are unlikely to allow movies to be sold online while they have the rights unless they negotiate a reduction in rights fees worth hundreds of millions of dollars per year.
John Maynard Keynes - 0 views
Keynes - 0 views
Cathedral and the Bazaar - 0 views
The Cathedral and the Bazaar - 0 views
The Cathedral and the Bazaar - 0 views
Audio Cathedral and Bazaar - 0 views
A Logic Named Joe (MemeMachineGo!) - 0 views
Freud, "Civilization and its Discontents," 1930 (excerpt) - 0 views
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horrors of the recent World War
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s the factor which disturbs our relations with our neighbor and which forces civilization into such a high expenditure [of energy]
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civilized society is perpetually threatened with disintegration
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1. The Love Song of J. Alfred Prufrock. Eliot, T.S. 1917. Prufrock and Other Observations - 0 views
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Though I have seen my head [grown slightly bald] brought in upon a platter, I am no prophe
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“I am Lazarus, come from the dead
MIT OpenCourseWare | Biology | 7.012 Introduction to Biology, Fall 2004 | Video Lecture... - 0 views
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And what this means is that if you look at a pedigree like this, and for example, here we have a mother and a father, girls are always round, boys are square. And here you'll see the mitochondrial DNA, it's donated to all of the children, but the fact is that these boys, when they mate, when they have offspring, they will no longer pass along her mitochondrial DNA, so it will be lost. And the only way the mitochondrial DNA can be transmitted is through one of her daughters, who in turn, have daughters.
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Here's some other interesting principles. Mitochondrial DNA passes always from the mother, so when a fertilized egg is formed, Dad gives his chromosomes, but he doesn't donate for any, doesn't donate any mitochondrial DNA.
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animals are related to one another. This is kind of a fun undertaking. Look at this. Why is it fun? Well it's, it's kind of an amusing idea, how often were cows domesticated during the history of humanity? How often were sheep domesticated? Pigs, water buffalos, and horses. And what you see here is that cattle were domesticated on two occasions, probably once in Western Asia, the middle east, and once in Eastern Asia. Sheep were domesticated twice, all modern sheep following these two families here
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http://history.hanover.edu/courses/excerpts/111dar.html - 1 views
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There is no obvious reason why the principles which have acted so efficiently under domestication should not have acted under nature.
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With animals having separated sexes there will in most cases be a struggle between the males for possession of the females.
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The Frontier In American History: Chapter X - 0 views
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As the American pioneer passed on in advance of this new tide of European immigration, he found lands increasingly limited
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. But the captains of industry by applying squatter doctrines to the evolution of American industrial society, have made the process so clear that he who runs may read.
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it seemed not impossible that the outcome of free competition under individualism was to be monopoly of the most important natural resources and processes by a limited group of men whose vast fortunes were so invested in allied and dependent industries that they constituted the dominating force in the industrial life of the nation
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