Tag Archives: larry summers

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

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The Economic Motherboard is Now Fried

Economics is a boring and tedious trade to the casual observer.  All the monthly report outs on GDP, employment, manufacturing, inflation, among other indexes, are a dull waste of time.  What decisions could one possibly make to improve their lot … Continue reading

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No Quick Fix for Structural Reforms

Finance ministers and central bankers from the Group of 20 leading nations met in Cairns Australia over the weekend.  The clever fellows believe, with the right balance of fiscal and monetary policies, they can improve the global economy.  This, of … Continue reading

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Beardless Ben and Bad Bet Summers

Plenty of ink has been spilled lately brooding over who’ll be the next Fed Chairman when Ben Bernanke’s term concludes on January 31, 2014.  Here at the Economic Prism we really don’t give a rip who the next monetary Caesar … Continue reading

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