It was a relief to see Barack Obama take responsibility for the "systemic failure" to protect the American people. It is surprising, however, to see that be the story lead in so much of the media coverage. After all, running the government is the presiden
Bridget Jones laments at the start of her hilarious diary the unfairness of having to "snap into self-discipline like lean teenage greyhounds," after the holidays, and yet our tradition is to make resolutions for improvement in the coming year.
The current issue of the Economist recognizes that the dramatic change in labor force participation of women is one of the most important transformations in the economic and social worlds during the past generation.
Surprisingly, the Taylor rule was referred to more frequently than ever in 2009. According to Google Scholar more articles referred to it than in any year since 1993 when John Lipsky, now First Deputy Managing Director at the IMF, first called the rule by that name.
President Obama, in his State of the Union Address last week, indicated that he would assist small business, particularly to encourage their hiring of additional workers. Two days later he proposed a $33 billion tax credit to small businesses that increase their hiring.
It's been nearly a year since the stimulus package of 2009 was passed. Unfortunately most attempts to answer the question “What was the size of the impact?” are still based on economic models in which the answer is built-in, and was built-in well before the stimulus.
Q: So if I want to understand what happened during the Great Depression – and even what the Obama administration is trying to do now – do I have to start by reading John Maynard Keynes’s General Theory of Employment, Interest and Money?