Category Archives: MN Gordon
Garbage In Garbage Out Economics
“On two occasions I have been asked, “Pray, Mr. Babbage, if you put into the machine the wrong figures, will the right answers come out? …I am not able rightly to apprehend the kind of confusion of ideas that could … Continue reading
The Exhilarating Romp to DOW 30,000
The stock market appears to have resumed its upward trajectory. The S&P 500’s back above its 200 day moving average. In fact, the S&P 500’s less than 50 points from its all-time high of about 2,131. Soon the brief panic … Continue reading
Constructive Simplicity for China’s Communist Party Plenum
The People’s Bank of China cut benchmark interest rates by 0.25 percent on Friday. This was the sixth time they’ve lowered interest rates within a year. Bank reserve requirements were also reduced by 0.5 percent. Economic growth has gradually declined … Continue reading
Lost in Extrapolation
In the late 1970s the impossible happened. Inflation and unemployment simultaneously went vertical. The leading economists of the day were flummoxed. The Phillips curve said there’s an inverse relationship between inflation and unemployment. When unemployment goes down, inflation goes up. … Continue reading
