A bad economy changes the way we think. We come to position ourselves for the greatest advantage out of economic necessity, even if other people are hurt by it. More and more we think micro ("what's best for me") instead of macro ("what's best for us"). It puts neighbors at odds. It is the source of polarization.
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I'm not a fan of "diagrams" in economics, but sometimes... This is a screen capture of slide 36 from a SlideShare presentatio... -
In the Google News this morning, "The Fed may have saved the economy by hiking rates for 18 months—and may have guaranteed crisis for... -
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JW Mason : "... in retrospect it is clear that we should have been talking about big new public spending programs to boost demand.&quo... -
Comparing the labor cost of Nonfinancial Corporate Business (NCB) to NCB profits since 2018. The vertical gray bar during 2020 shows the re...
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