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Economic Musings VI: Modern Economies – Dying of Consumption

There is a great debate in the history of economics whether there can be under-consumption in any real historic moment of the state of an economy and if so, whether it has detrimental effects and if so, what is to be done about it. And modern economists seem to have found a magic wand with which to unfailingly repair any such damage and smoothen the otherwise rough ride of economic cycles. We’ll see if they have and what it might be worth, whether it’s a wand or a cane.

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Economic Musings V: Subsidies, Brothers and Nannies

2010-03-29 2 comments

There are a thousand-and-one reasons why states “need” to subsidise economic activities. And there are at least as many critiques as to how the money was wisely spent, should not have been spent, should have been spent on something else, was too little, too much, at the wrong time, too early, too late, wasted or wonderful. Any policy that meets with such contradicting praise or censure is worth a deeper look. Read more…

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