Recent Posts - page 3

  • Ding dong, the witch is dead.

    No, not that witch.  Janet Yellen has resigned as Chairman Chairwoman Chairperson of the Federal Reserve System. Steve Forbes said it best: she was a chair-warmer.  Actually, she was another affirmative-action hire who was in waaaay over her head. In a… Read More ›

  • Financial Frauds

    fraud: noun \ ˈfrȯd \ deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage a particular instance of such deceit or trickery any deception, trickery, or humbug a person who… Read More ›

  • The Law of Minimum Wages

    I was cleaning up the files on my computer when I came across these two images.  They speak for themselves.   Well, which was it?  An increase of 140,000 jobs, or a decrease of between 100,000 and 1,000,000 jobs? One… Read More ›

  • The Rileyian Vice

    In economics, the term “Ricardian Vice” refers to the tendency for economists to make and test theories that aren’t troubled by the complexities of reality, resulting in theories that are mathematically beautiful but largely useless for practical applications. I previously… Read More ›

  • Among the Millennials

    I recently accepted a short-term assignment doing some accounting work for a local firm.  The office was one of the nicest that I have ever worked in: glass walls that let in lots of sunshine; clean, organized workspaces; and two… Read More ›

  • Another reason why no one understands economics

    This is from the LinkedIn page of a woman who was in the PhD program a couple of years before me.  She is now a tenured professor in an Economics department at a university in the South (and a single… Read More ›

  • Confused? You must have read Keynes.

    For he has been acknowledged as the master of confusion: Paul Samuelson, professor of economics at MIT after World War II and author of a best-selling economics textbook, was one of Keynes’s most ardent American disciples. Here is what he… Read More ›