Comments on: Macro for Dummies

By: Little Rose

Little Rose — Tue, 27 Oct 2009 18:22:09 +0000

Linking the unemployment rate to the growth can be considered.
During recession times,its the interest and welfare of the people that should be given top priority

By: Dick Harding

Dick Harding — Mon, 26 Oct 2009 18:06:44 +0000

Harding’s “success” had much to do with the Bank of England’s actions, little to do with his political philosophy. The BoE was also a major source of the 1919-1921 troubles, in its pursuit of something along the lines of ‘intelligent and courageous deflation’ (a phrase one of your supposed icons, Ludwig Mises, would wince at hearing). Coolidge’s “successes” were similarly due to Fed policy under Strong, while Hoover’s “failures” stemmed in large part from Fed actions after Strong’s death. Demographics may also have played a powerful role in global economic developments between the wars.

Better to impugn governments though, as that makes it much easier for clever writers to steal people’s money. Surely there’s more than a fine line between ‘voluntary’ and ‘involuntary’ redistribution, eh Billy Boy?

By: Lost & Found

Lost & Found — Mon, 26 Oct 2009 09:28:10 +0000

The result was a long-drawn-out affair that lasted until 1927 and ended in a bank crisis. In America, meanwhile, by 1922 unemployment was back down to 6.7%.

Well, unemployment figures don’t mean too much these days. With wages you can’t live on you may have unemployment near zero but in the end it is not more than disguised slavery.
So you better change your map from unemployment figures as a measurement of success to the quality of work that the employed are doing and the money they get for their work.

By: Dave

Dave — Sun, 25 Oct 2009 16:38:49 +0000

Most intelligent people aggree with your article however the problem is getting intelligent people into government.

By: Dean

Dean — Sat, 24 Oct 2009 21:08:11 +0000

Hehehe. That Keynes, always the joker. I’m sure he and Zhuangzi are somewhere having a good laugh at the current situation.

By: LaRRRRy

LaRRRRy — Fri, 23 Oct 2009 22:12:56 +0000

Bill,
Dead incumbents can’t run for a second term, unless they are from Missouri.

By: TC

TC — Fri, 23 Oct 2009 21:45:04 +0000

Ah yes but Harding lived in a time where money must be tied to gold.
Today, money is tied to nothing. So when you create too much of it, it automatically destroy itself in a recession. Which of course presents a new opportunity to create some more! That’s the central banking fun and game. But if people blow their brains out as a result of this money game, well, that’s their problem.

By: Bill

Bill — Fri, 23 Oct 2009 20:27:11 +0000

So, why was Harding a one-termer? Didn’t Fisher famously proclaim on October 15, 1929, that the stock market was on a permanently higher plane and would never go lower? Didn’t he lose his family’s fortune in the ensuing crash and die in a nut house?