This is the second post in the live-blogging Economics as Religion series. The first post was published on Monday, March 11.
“To the extent that any system of economic ideas offers an alternative vision of the ‘ultimate values,’ or ‘ultimate reality,’ that actually shapes the workings of history, economics is offering yet another grand prophecy…
Over the next few weeks, I will be live-blogging Robert H. Nelson’s Economics as Religion. Though the book is somewhat dated (published 2001), its discussion is still relevant. This is the first post in this series. Hope you enjoy!
Introduction: The Market Paradox
The role of self-interest in economic growth is a paradox.
Of course,…
Mia over at PragmaticMom.com has posted a great analysis of basic monetary economics over at her blog. I encourage you all to read it. Here’s an excerpt:
This is the key question of why the United States (and therefore Rosie) can’t just print endless amounts of money. This questions shifts from a question of Government…
The way “the economy” is discussed in our modern day has led to widespread misunderstanding about what “the economy” actually is. In the following, I will briefly share what it is, what it is not, and where the conversation about the economy has gone awry.
What it is:
The term “the economy” is used to…
Yes, the title is intentionally provocative. Last night I decided I would read President Obama’s nomination acceptance speech from the DNC. Truth be told, when taken out of context, the President said some things that resonate with the Austrian School of economics. The President rightly evaluated that there is no easy, quick and painless way…
In this post, we highlight a few popular level resources for gaining a deeper understanding of the financial crisis and its aftermath.
The Bubble, a documentary examining the financial crisis, will be arriving shortly.
Fraud: Why the Great Recession features Jesus Huerta deSoto and Philip Bagus and is already available.
Learn “real history and economics”…
If you’ve been following the news lately then you have probably heard something about Barclays and interest rate fixing. Barclays is a massive banking corporation based in the UK with a large world-wide presence. By ‘interest-fixing’ financial commentators mean Barclay’s lied about the London Interbank Offered Rate (LIBOR) and the Euro Interbank Offered Rate (EURIBOR).…
As the title indicates, this post is the follow up to a previous post. I recommend reading it before jumping into this one.
Enter Stan Marsh, just trying to return his family’s margarita maker. If there is any redemptive part of “Margaritaville” it is here.
First Stan attempts to return it to the retailer. The…
In a previous post, I lauded the economic lessons of South Park’s “Cash for Gold” episode. In this post, I must reverse my praise for the economics in an earlier episode, “Margaritaville.” The episode originally aired in early 2009 amid intense public debates over the global financial crisis.
The episode took on the cornucopia of …
The television in my household is often tuned into Fox News (almost never by my choosing). Through the various programs (especially The Five), I overhear constant complaints about President Obama’s handling of the economy. More often than not, I find the talking heads to be demonstrating flawed, inconsistent thinking in their complaints that are not…
