- I found point #1 in this post to be pretty interesting. There is a comical irony to be observed in Post Keynesian theory. While these folks like to mock the neo-classicals and others for drawing suspect macro conclusions from micro phenomena, the author elucidates how they are apparently doing the exact same thing on one of their foundational issues: money creation.
- I read Singapore’s Success by Henri Ghesquiere (2007) in an effort to bone up on an economy that many tout as, well, a success. In a nutshell, the author praises policy that leads to higher savings rates and lower debt levels, limited social safety net provisions, lower taxes, public enterprises that are guided by market principles, flexible wages, a resistance to dependency culture, honest government, and a longer term vision. It’s not simply some formulaic approach, but there is a lot to be learned. The flip side is a slightly authoritarian government that intervenes frequently, albeit in a thought out and well-executed manner – in this case, there really does appear to be some benevolent dictator at the helm.
- While I haven’t said anything about it, trust me, I know exactly what’s happening in the NBA this season…
