Category: Economics

The new GDP

Coming Wednesday Getting Creative With the G.D.P. “the results of an immense revaluation of the size and composition of the American economy.”

Witches, recessions, and pensions

From the archives, as I think about Macbeth Why it’s dangerous to be a witch in a recession (Slate, Harford) Note that the witches aren’t the ones committing the actual crimes here—they’re just older people with resources coveted by the…

Austen replaces Darwin

on the £10 note. Sense and Sensibility: Jane Austen to Appear on £10 Note (Shelf Awareness) Interesting controversy: Apparently the Bank of England missed the irony of the quote.

Lit review: gold

A literature review that works for NYTimes Budging (Just a Little) on Investing in Gold (Greg Mankiw) “Gold may offer an average return near that of Treasury bills, but its volatility is closer to that of the stock market.”

Hysteresis in hiring

Some useful nuggets, for practical reasons and theory (micro and micro-foundations of macro), too. Avoiding the Soft ‘Yes’” In particular, this. “Executives often hesitate to hire additional staff (‘What happens if this doesn’t work — then what do we do?’…

Anti-austerity evidence

@justinwolfers: Remarkable: Compare the recessions and subsequent recovery in the US (red line) with that in the UK (blue). http://t.co/xpoMF4VBuk @justinwolfers: The crisis, and the recovery. Now adding Australia to the US v UK comparison. RT @MattCowgill: Another perspective: http://t.co/TVn6YXDYhA

The English Rentiers

World-bulding time, and social awareness, too. Britain is recreating a rentier society fit for a baby royal (Financial Times) “I asked the panel of industry leaders how comfortable they felt with young people’s opportunities governed by the lottery of their…