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Susanna Pierce

India Rising - Globalization and the Middle Class . NOW on PBS - 0 views

www.pbs.org/...index.html

Marginal Propensity to Consumer Disposable Income Aggregate Demand

shared by Susanna Pierce on 20 Apr 11 - No Cached
  • Susanna Pierce on 20 Apr 11
     
    I use this clip to expand on the concept of MPC/MPS and Disposable Income before developing the Aggregate Model.
Jason Welker

Economic View - A Dose of Skepticism on Government Spending - NYTimes.com - 5 views

www.nytimes.com/...11view.html

shared by Jason Welker on 21 Nov 11 - No Cached
  • the centerpiece is likely to be a huge increase in government spending
  • John Maynard Keynes
  • A main focus was how to avoid, or at least mitigate, the recurring slumps in economic activity.
  • ...17 more annotations...
  • Economic downturns, Mr. Keynes and Mr. Samuelson taught us, occur when the aggregate demand for goods and services is insufficient.
  • Higher consumer spending expands aggregate demand further, raising the G.D.P. yet again. And so on. This positive feedback loop is called the multiplier effect.
  • these Keynesian prescriptions make avoiding depressions seem too easy.
  • each dollar of government spending can increase the nation’s gross domestic product by more than a dollar
  • The solution, they said, was for the government to provide demand when the private sector would not.
  • less than a third of the increase takes the form of private consumption and investment.
  • Professor Ramey estimates that each dollar of government spending increases the G.D.P. by only 1.4 dollars.
  • In practice, however, the multiplier for government spending is not very large
  • If you hire your neighbor for $100 to dig a hole in your backyard and then fill it up, and he hires you to do the same in his yard, the government statisticians report that things are improving.
  • it is unlikely that, having wasted all that time digging and filling, either of you is better off.
  • inefficient spending
  • bridges to nowhere,
  • increase in economic well-being.
  • a rigorous cost-benefit analysis of each government project.
  • To this day, we have yet to come to grips with how to pay for all that the government created during that era
  • a temporary crisis as a pretense for engineering a permanent increase in the size and scope of the government. Believers in limited government have reason to be wary.
  • tax cuts will be a larger piece of the Obama recovery plan than was previously expected.
Michelle Ruffle

Wolfram Alpha - 1 views

www.wolframalpha.com

shared by Michelle Ruffle on 13 May 10 - Cached
  • Michelle Ruffle on 13 May 10
     
    I am not sure if this has been mentioned before, but Wolfram Alpha is a great website for finding economic and other data. Wonderful charts and diagrams that aggregate information, compare and contrast, etc. It is really worth a look.
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