Michael Steele is a Nitwit and Wolf Blitzer is a Jackass
Economic ignorance is widespread in the United States. People think they know something about the subject, but few do. My mother is convinced that China is the cause of all our economic problems. When I challenge her, she doesn’t think it matters that I have spent forty years studying and teaching the dismal science. If… | more |
Was the 1982 Recession Worse than Today's?: Some Comments
I always told my students that it is necessary to examine many statistics to understand what is going on in the economy. The growth of the Gross Domestic Product (roughly our total yearly production) is often used as a measure of the economy’s health. However, the GDP could be growing rapidly, while the growth could… | more |
Appendix to cheap motels and a hot plate
The original draft of the book had the following appendix. We decided not to use it. An abridged version has been published at www.mrzine.org. Do you think I should have included it in the book? We Meet an Economist Karen and I were hiking in Santa Fe, New Mexico, on the Atalaya Mountain Trail, which… | more |
[Note: This first appeared in Counterpunch at http://www.counterpunch.org/yates10102007.html. It is based upon a story in the book.] Alan Greenspan’s new memoir has put his tenure as Federal Reserve chairman on the hot seat, as critics ask whether he bears responsibility for the housing bubble and for his failure to vocally reject the Bush tax cuts.… | more |