And they had all decided, left, right, and center, that there was not a thing economically wrong with socialism: that socialism's only problems, such as they might be, were political. Economically, socialism could work just as well as capitalism.
Much ink has been expended in discussions of the US yield curve and also on the reluctance of the country’s lower money aggregates to grow as
For anyone interested, the full version of the article which includes thoughts on the role of the yield curve — updated to take account of the feed
Free-market capitalism allows for a degree of coordination that no other system can match. Those who hold capitalism to a standard of perfection ignore the fact that activist governments have failed to attain anything better, and have often made matters worse.
Let us remember that we live in a world of scarcity, that economizing on information can be efficient, and that sometimes the reason stereotypes exist is because, well, they're true.
The various sources of error that come into play in the social sciences suggest that the error in economic observations is substantial. Morgenstern shows that the solution of a system of economic mathematical equations or econometric models is, due to the quality of the data, completely devoid of meaning.
