Tag Archive: economics

Nov 14

Republican Economics the Same in 1920’s and Today

wealth concentration

Since I teach high school history, I thought I’d share a couple graphs I found for one of my classes.  During the 1920’s, GNP per capita was increasing… But gains were concentrated the top… Calvin Coolidge and Herbert Hoover were the proponents of supply-side economics and “rugged individualism” from 1921-1932.   Republicans spout the same …

Continue reading »

Oct 11

Thoughts on Externalities

I’ve been looking back at material I read a long time ago by Robin Hahnel, economics professor emeritus at American University, and it got me thinking about the problem of externalities in market systems.  As basic economics tells us, an externality is an effect of a purchase on a third party in addition to the …

Continue reading »

Aug 13

Mainstream Economics Anyone?

Mainstream economics tells us (quite logically I believe) that the multiplier effect of government spending is greater than that of tax cuts. That is to say an increase in government spending increases GDP more than a tax cut of the same amount. Why? Because if I have a tax cut, I am likely to save …

Continue reading »

Aug 01

Romney Praises Another Country That Does the Opposite of What He Wants

Romney on Poland: “Rather than heeding the false promise of a government-dominated economy, Poland sought to stimulate innovation, attract investment, expand trade, and live within its means…Your success today is a reminder that the principles of free enterprise can propel an economy and transform a society.” Facts (from the World Bank): Government Final Consumption as …

Continue reading »