Tagline
Welcome From Economicz
The economy is the system by which goods and services are produced, distributed, and consumed within a society.
Categories
LATEST
- Personal Income and Spending Unexpectedly Decline…
Economists missed the boat by a mile on income and expenditures. Income and Outlays image top half from Bloomberg, bottom half from the BEA The BEA’s Personal Income and Outlays report for May 2025 was much weaker than economist’s consensus expected. Spending was a bit higher than I expected. To arrive at real numbers, subtract … Read more - The Road to Incoherence: Arthur Burns…
UPDATE: My concluding paragraph was inadverently deleted from my post, so even if you’ve already read the post, you may want to go back and read my concluding paragraph. Last December, Nathan Tankus wrote an essay for his substack site defending Arthur Burns and his record as Fed Chairman in the 1970s when inflation rose … Read more - Why the Tories’ “put people to…
What do you do when your economy is in the doldrums and you need to kickstart growth? Why, you put more people to work, that’s what you do. This has been the Tories’ strategy since 2010. The sustained attack on welfare benefits has all been focused on “making work pay” – encouraging, and at the … Read more - Risks to growth and inflation helping…
As I write this, the US 10-year Treasury bond is yielding 1.457%, well under the trading range it had established during this quarter. And there are a lot of theories as to why this is happening. I want to spell out how I’m thinking about the yields and what the risks and opportunities are going … Read more - Too many Superheros?
How much content should a franchise produce? A recent WSJ story indicates that the expanding Marvel Cinematic Universe (MCU) is approaching a deluge. The graph they created certainly indicates a huge increase in content, mostly on TV. How much to produce is an extent decision. On the one hand, the huge success of the Avengers … Read more
Tagline
Our latest News
Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Managerial Econ: Scale Determines Technology
The robotaxi business is getting another entrant, but also a
Read more
Subject notes on behavioural economics –…
Each year I teach an undergraduate subject in behavioural economics.
Read moreKNOW MORE
Australian Labour Market – steady but…
The Australian Bureau of Statistics (ABS) released the latest labour force data today (June 19, 2025) – Labour Force, Australia – for May 2025, which revealed that the unemployment rate remained unchanged at 4.1 per cent for the second consecutive month. There was a small decrease in overall employment (-2,500) which was offset by a
Stochastic Trend: China’s Carbon Emissions Trend…
Last year, I published an article in The Conversation followed by a paper in Environmental Challenges with Khalid Ahmed on the trend in carbon emissions in China after the pandemic. We concluded that emissions continued to rise strongly after the pandemic. Most of the increase was in the electric power sector. A peak in emissions
More On Truncation Without Reswitching
Figure 1: Partitions For A Parameter Space This post extends this and this. I am considering perturbations of coefficients of production in a numerical example of the recurrence of truncation without the reswitching of techniques. The example consists of two industries that produce new machines and corn, respectively. The physical life of a machine is
Why sanctions didn’t stop Russia’s Garantex…
Stablecoins, a new type of financial institution, are unique in two ways. First, they use decentralized databases like Ethereum and Tron to run their platforms. Secondly, and more important for the purposes of this article, they grant access to almost anyone, no questions asked. I’m going to illustrate this openness by showing how Garantex, a
The FTC’s Zombie Antitrust Action Against…
FTC v. Meta Platforms Inc. has gone to court, and trial is just underway in the U.S. District Court for the District of Columbia. The Federal Trade Commission (FTC) alleges that Meta is currently, in 2025, engaged in monopolization in violation of Section 2 of the Sherman Antitrust Act by dint of having acquired Instagram
What’s behind the rise in disability…
Rising rates of disability colliding with greater financial hardship are pushing more people to seek support Part of the government’s justification for its cuts to disability and incapacity benefits is that the number of disabled working-age people in England and Wales has risen by 17% since the pandemic, but the number of people receiving incapacity[i] or disability
India’s Chinese Dream – Biased Economist
The past three decades were blissful for the India’s growth numbers, but not for its developmental needs. Despite of being a democracy with the multi-party system, and free elections, it is far behind the authoritarian styled China. The elections in India are on ‘one person one vote’ basis, whereas in China the President is selected
Macro Musings Blog: Make-Up Policy: Where…
As we head into the second half of the year, the swift recovery many were hoping for is facing an uncertain future. The resurgence of the COVID-19 virus and concerns about dwindling fiscal support have many worried. I submit that even in the absence of these worries, the recovery would still be on shaky grounds
The Grumpy Economist: Sociology Meetings
When Jukka Savolainen wrote about it in the Wall Street Journal I couldn’t quite believe it, so I had to go look. Indeed, on the website of the American Sociological Association describing its 2024 annual meeting we have the official “theme” of the meeting “..sociology as a form of liberatory praxis: an effort to not only understand structural
Property, Resilience, and Institutional Adaptation in…
What if the story of economic development doesn’t begin with the market, but with the household? And what if property, often assumed to be a static bundle of rights, is better understood as a dynamic institution—adaptive, historically layered, and relational? These questions sit at the heart of my recent research, which I had the opportunity