August « 2011 « Economics Info

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I’m writing an essay in which I have to give a brief definition of Neoliberalism, as a dominant ideology throughout the US, UK, Australia and to an extent Russia… I settled upon:

Neoliberalism is a market based theory of economic and social policy, loosely based on neoclassical economics, that has become increasingly influential since the early 1970s. The role of the state is minimised, with a corresponding increase in the role of the private sector in determining the political and economic priorities of the state, through the efficiency of private enterprise, liberalised trade and relatively open markets. Neoliberalism also places a heavy emphasis on individuals (citizens) producing and increasing their own productivity and wealth.

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Archive for August, 2011

Steve Jobs: Beauty justifies wealth?

U.S. Government Struggles As The Biggest Seller of Homes – "Government-run Fannie Mae, Freddie Mac and the Federal Housing Administration now own about a third of the country’s nearly 800,000 foreclosed properties. With that inventory predicted to grow, they are looking for new ways to cope."

Dearth of entrepreneurship: The U.S. created fewer start-ups that employed at least one worker in 2007 than in 1990; Also, in the 1990s new establishments opened for business with about 7.5 jobs on average, compared with 4.9 jobs in the 2000s.

Obama Taps Krueger as Top Economist

The Economics of Ethanol Subsidies

Why Alan Krueger’s Jobs Analysis Was Spot On

From a 2011 paper co-authored by Alan Krueger, incoming head of Obama’s Council of Economic Advisers: “When we adjust for unobserved student ability…our estimates of the return to college selectivity…are generally indistinguishable from zero.”

The Slow Disappearance of the American Working Man

Obama nominates Alan Krueger to be chairman of the White House Council of Economic Advisers

When the first house they buy ends up being the only house they will ever own.

The Economics of Happiness

Things that people should know: Real wage reduction through inflation

Marijuana Economics 101

What Not to Do in a Debt Crisis — by acting as if Europe were in danger of repeating the nineteen-twenties, when Weimar Germany succumbed to hyperinflation, Trichet is running the risk of repeating the mistakes of the early thirties

What is Debt? – An Interview (the best summation of our current economic predicament that I’ve seen)

Krugman quotes, in context

Local Hangovers: How the Housing Boom and Bust Affected Jobs in Metro Areas

Econometrics ninja David Card studied a rise in the minimum wage and found it didn’t affect employment: “it cost me a lot of friends…. They thought that in publishing our work we were being traitors to the cause of economics as a whole."

Definition of Neoliberalism?

Interesting Joe Stiglitz talk about what’s wrong with economics and what we should study going forward (video)

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