Archive for the ‘Economy’ Category
Economic Myths Part 4
Tuesday, March 24, 2009 3:56 No CommentsContinued from Economic Myths Part1 , Economic Myths Part 2 and Economic Myths Part 3
According to economic theory there is a tendency in the market place for every factor, including labour, to receive the full value of its marginal product. This means that labour, for example, will tend to get the full value of its [...]
Economic Myths Part 3
Thursday, March 5, 2009 3:26 No CommentsContinued from Economic Myths Part1 and Economic Myths Part 2
But as my profound and well informed critic decided to make an unfavourable comparison between the US and Germany let’s look at some other facts. Unemployment stands at 9.4 per cent in Germany against 4.9 per cent in the US — even though the US is [...]
Economic Myths Part 2
Sunday, February 22, 2009 13:52 No CommentsContinued from Economic Myths Part 1
For example, twelve US economists calculated that the inflation rate had been overstated for the past twenty years or more, with revised rates ranging from 0.4 per cent a year to 1.8 per cent. W. Michael Cox and Richard Alm averaged the results out to 1.1 per cent a year [...]
