Tag Archives: Joseph Schumpeter
What Needs to Happen Before We See a Big Recovery?
In a Bloomberg article last May, Caroline Baum summed up the economy nicely in a single question: Four-and-a-half years of an overnight rate near zero and aggressive securities purchases by the Fed have succeeded in raising asset prices. The question … Continue reading
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Tagged Arnold Kling, breadwinner jobs, bubble finance, Caroline Baum, creative destruction, household savings rate, Joseph Schumpeter, private domestic demand, PSST theory, real disposable income
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Have Larry Summers and Paul Krugman Just Had Their Dimon/Dudley Moment?
With my kids getting older, I no longer get much chance to play “What’s wrong with this picture?” This is the game you’ll occasionally find on a children’s menu that’s based on a picture with, say, a guy holding an … Continue reading
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Tagged Alan Greenspan, Arnold Kling, Bill Dudley, financial regulation, full employment equilibrium, Jamie Dimon, Joseph Schumpeter, Keynesianism, Knut Wicksell, Larry Summers, Larry Summers speech, natural interest rate, Paul Krugman, Phillips curve, PSST, Tyler Durden, zero lower bound
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