There are those (me) who think that the International Monetary Fund (IMF) is a huge load of worthless, corrupt crap, not only because their dismal record pretty much shows that they are miserable failures, but because that is the way things always end up when someone is given power and money in huge amounts, or…Read more…

We’re all relatively familiar with Gross Domestic Product, or GDP, which measures the aggregate expenditure, or output of the economy. However, we tend to hear much less about its unloved cousin, Gross Domestic Income, or GDI, which tracks the economy’s total income. A Federal Reserve economist, Jeremy Nalewaik, recently decided to look at the US downturn…Read more…

Still on the road to moksha… Prices are rising in India – pushed up by the high cost of food. Thanks partly to a disastrous government policy of encouraging the over-use of chemical fertilizer, food prices are shooting up. In a poor country, food is a bigger part of the family budget than in a rich…Read more…