Showing posts with label goods. Show all posts
Showing posts with label goods. Show all posts

China To Pass US As World’s Leading Economy This Year

The Obama legacy.     The US is on the brink of losing its status as the world’s largest economy, and is likely to slip behind China this year, sooner than widely anticipated, according to the world’s leading statistical agencies. The US has been the global leader since overtaking the UK in 1872. Most economists previously thought China     ... MORE

M. Housel: 3 Economic Misconceptions That Need To Die

Regarding goods from China and Middle East oil. At a conference in Philadelphia last October, a Wharton professor noted that one of the country's biggest economic problems is a tsunami of misinformation. You can't have a rational debate when facts are so easily supplanted by overreaching statements, broad generalizations, and          ... MORE

Kenneth Gould: The High Cost Of College

An economic explanation. Despite good intentions, government has reduced price competition; as a result, prices have risen much faster than they otherwise would. Many news articles are starting to note that middle and upper-middle class parents are having trouble paying for their children’s college educations. Most of these articles see this  ... MORE

Walter E Williams: It Just Ain't So

Do we really have a trade imbalance?   The U.S. Census Bureau reports that 2011 manufacturing output grew by 11 percent, to nearly $5 trillion. Were our manufacturing sector considered a nation with its own gross domestic product, it would be the world's fourth-richest economy. Manufacturing productivity has doubled since 1987, and     ... MORE

Sheldon Richman: The Myth Of The Greater Good

Politicians must stop acting like the ends justify the means. I—and most other people, I assume—grew up being taught that the end doesn’t justify the means. Basically, this is an injunction not to rationalize one’s behavior while using other people as mere means to one’s ends. Most people apply that principle day to day. If you want at an item on a       ... MORE

Robert P. Murphy: Understanding The Price Of Money

On purchasing power. In a money economy, the money commodity is on one side of every transaction, and hence reduces the number of relevant prices. The direct exchange ratio between any two commodities can easily be computed from their respective money prices. The "price" or purchasing power of money is the array of goods and services for which a unit of ... MORE