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Archive for the ‘Gross Domestic Product – GDP’ Category

Economic Musings VIII: Is there a limit to economic growth?

Something which puzzles many thinkers and frightens many young people concerned about waste or the pillaging of our natural resources is the question: can “an economy” (whatever that is – we’ll come to that in a minute) grow indefinitely?

How can there be unlimited economic growth if we’ve never heard of unlimited growth in, say, an elephant? Read more…

Bloom of Doom VI: Will China Survive the Crisis?

China. like Japan in the late seventies and 1980s, has been dubbed an economic miracle. What if, like totally bankrupt Japan, this giant just stood on feet of clay, a zombie, a dead man walking? Are any of its statistics to be trusted? Or do we see just another Samuelson fallacy about the resilience and “productivity” of communism? Read more…

Bloom of Doom I: British Economy Creeps Out of Recession?

In today’s Wall Street Journal online in an article titled “British Economy Creeps Out of Recession” we read:

“The Office for National Statistics said Tuesday that gross domestic product in the three months to Dec. 31 [2009] increased 0.1% compared with the third quarter. Compared with a year earlier, GDP fell 3.2%. … For the whole of 2009, the economy contracted 4.8%—its biggest output fall on record.” (Emphasis CrisisMaven) Read more…

How GDP betrays the Economy

Isn’t the crisis over, albeit the recovery may be slow? Hasn’t GDP contraction slowed down, been stopped, maybe reversed? Isn’t all that good news? Couldn’t it have been worse if the Fed hadn’t done the right things?

The problem with almost all macro-economic aggregates ist that Read more…

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