Do ModernAustrianseverReadLachmann? http://feedly.com/k/1gdUqEI For example, this passage: “In neoclassical equilibrium theory the relationship between value and price becomes problematical in a way it was not for classical economists. The difference is one of the knowledge we may attribute to market participants. In the classical world it was reasonable to assume that every trader in a market knew the long-run cost of production of the product … Seguir leyendo Do Modern Austrians ever Read Lachmann?

Goldman: LTRO-IIIisonly a matterof time http://feedly.com/k/191nZTC Over the past year, the ECB’s (Eurosystem’s) consolidated balance sheet declined roughly three quarters of a trillion euros. As discussed earlier (see post) most of this decline is due to the repayment of a portion of the MRO/LTRO loans that the ECB extended to the area’s banks in 2011 and 2012. ECB’s (Eurosystem) balance sheet (source: ECB) Some economists … Seguir leyendo Goldman: LTRO-III is only a matter of time

China’sExports "Surprisingly" Drop http://feedly.com/k/1ai98Cd Economists expected a 6% rise in Chinese exports. Instead, exports fell 0.3%. Please consider China’sSeptemberexportgrowthinsurpriseslide. China’s export growth fizzled in September to post a surprise fall as sales to Southeast Asia tumbled, data showed, a disappointing break to a recent run of indicators that had signaled its economy gaining strength. China’s exports dropped 0.3 percent in September from a year earlier, … Seguir leyendo China’s Exports “Surprisingly” Drop

Puerto Rico’sDebt Crisis – Another Domino KeelsOver http://feedly.com/k/1gdTK27 Puerto Rico’sBondsCollapse If one looks at various sovereign states, it seemingly doesn’t matter that their public debts continue to rise at a hefty clip. The largest ones are considered to have economies that are big and resilient enough to be able to support the growing debt load. Part of the calculus is no doubt the notion that … Seguir leyendo Puerto Rico’s Debt Crisis – Another Domino Keels Over

IfWe Are InAnEconomicRecovery, Why Are MajorCorporationsFiringThousands? http://feedly.com/k/1fpxSQ1 SubmittedbyJimQuinnofTheBurningPlatformblog, We already have declining real wages. Small businesses are geting wiped out by taxes, regulations, and Obamacare. These mega-corporations are firing thousands. Retail and restaurant sales are plunging. Consumers are scared straight and are reducing credit card debt. Government spending in states and localities is declining because they are required to balance their budgets. The Boomers are … Seguir leyendo If We Are In An Economic Recovery, Why Are Major Corporations Firing Thousands?

El Gran Señor de la Guerra http://crashoil.blogspot.com/2013/10/el-gran-senor-de-la-guerra.html Queridos lectores, Javier Pérez me ha hecho llegar el siguiente ensayo, escrito con su estilo ameno, sobre las causas profundas por las que los EE.UU. se han convertido en una máquina de batallar, más allá de los típicos análisis superficiales. La realidad es mucho más frágil de lo que nos pensamos. A tener en cuenta en el futuro … Seguir leyendo El Gran Señor de la Guerra

WhenAustriansThrowRealitytotheWind http://feedly.com/k/15um1dY I am sternly lectured here by an internet Austrian commenting on my last post that my empirical evidence supporting the statement that many businesses use administered prices is all for naught, because, well, empiricalrealitydoesnotmatter: “First, there is the role of empirical evidence in economic theorising. A chronicler like you will never get that part. Second, there is the important point that what people … Seguir leyendo When Austrians Throw Reality to the Wind