Robert Shiller: "Just as most people are more interested in stories about fires than they are in the chemistry of fire retardants, they are more interested in stories about financial crashes than they are in the measures needed to prevent them. That is not a recipe for a happy ending."
Sunday, 19 January 2014
Thursday, 16 January 2014
In continuation of my last post .... economics everywhere :) .. so very well said by Mundell
'It keeps cropping up all over the place.
There is an economics of money and trade, of production and consumption, of distribution and development.
There is also an economics of welfare, manners, language, industry, music, and art.
There is an economics of war and an economics of power.
There is even an economics of love.
Economics seems to apply to every nook and cranny of human experience.
It is an aspect of all conscious action. Whenever alternatives exist, life takes on an economic aspect. It has always been so.
But how can it be?
It can be because economics is more than just the most developed of the sciences of control.
It is a way of looking at things, an ordering principle, a complete part of everything.
It is a system of thought, a life game, an element of pure knowledge." - Robert A. Mundell
There is an economics of money and trade, of production and consumption, of distribution and development.
There is also an economics of welfare, manners, language, industry, music, and art.
There is an economics of war and an economics of power.
There is even an economics of love.
Economics seems to apply to every nook and cranny of human experience.
It is an aspect of all conscious action. Whenever alternatives exist, life takes on an economic aspect. It has always been so.
But how can it be?
It can be because economics is more than just the most developed of the sciences of control.
It is a way of looking at things, an ordering principle, a complete part of everything.
It is a system of thought, a life game, an element of pure knowledge." - Robert A. Mundell
Tuesday, 14 January 2014
Something we profs always say in class ...... economics concerns everybody and everything :)
"Economics must not be relegated to classrooms and statistical offices and must not be left to esoteric circles. It is the philosophy of human life and action and concerns everybody and everything. It is the pith of civilization and of man's human existence." - Ludwig Von Mises
Quote for the Day
"Everything that is really great and inspiring is created by the individual who can labour in freedom." - Albert Einstein
Thursday, 9 January 2014
2014 news
In 2014 Brazil will host a World Cup and hold an election.
In 2014 India will hold an election.
In 2014 NAFTA North American Free-Trade Agreement turns 20.
In 2014 India will hold an election.
In 2014 NAFTA North American Free-Trade Agreement turns 20.
Wednesday, 8 January 2014
Thought for the Day
"Development is about transforming the lives of people, not just transforming economies." - Joseph Stiglitz
Sunday, 5 January 2014
Did you know
The global economy in 2013 saw a number of crisis-hit countries and regions make progress on their recovery path. Slowly, the world economy is turning a corner, but challenges still remain.
Construction to expand the Panama Canal could be halted in 3 weeks after the building consortium demanded $1.6 billion more from the Panamanian government to continue.
Construction to expand the Panama Canal could be halted in 3 weeks after the building consortium demanded $1.6 billion more from the Panamanian government to continue.
Bill Gates is now the world's richest man, while the top 300 added $524 billion to their collective in 2013.
Mikhail Kalashnikov died on December 23rd, aged 94. But his 66-year-old invention, the Avtomat Kalashnikova, has plenty more shots left to fire. Developed in 1947 and first used by Soviet forces in 1949, the AK-47 assault rifle and its many derivatives are now used by the armed forces of more than 80 countries.
Mikhail Kalashnikov died on December 23rd, aged 94. But his 66-year-old invention, the Avtomat Kalashnikova, has plenty more shots left to fire. Developed in 1947 and first used by Soviet forces in 1949, the AK-47 assault rifle and its many derivatives are now used by the armed forces of more than 80 countries.
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Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2021 one half to David Card University of California, Berkeley, USA...
