As baseball history shows, as with GDP, with inflation we need a nominal and real amount to compare different years’ salaries and calculate future value.
Because the Congress established a dual mandate of high employment and price stability for the Federal Reserve’s monetary policy, they created a dilemma.
Our Posts Roundup Sunday 12.07.14 Innovative potato stories…more Monday 12.08.14 The pregnant UPS lady who sued her boss…more Tuesday 12.09.14 Measuring inflation can be tough…more Wednesday 12.10.14 Why Congress creates economic uncertainty…more Thursday 12.11.14 The ways that…
The perverse incentives created by Venezuelan price controls result in shortages, underutilized resources, wasted time, soaring inflation and hoarding.
The ebola epidemic will affect Liberia’s GDP growth rate through the illness itself and the ripple of fear that hits households, businesses and government.
There once was a French economist whose name was Say. Proclaiming that “Supply Creates Its Own Demand,” Jean-Baptiste Say (1767-1832) entered economic history with Say’s Law. All he meant was that workers are also consumers. The money you receive for producing a good or a service…
Every year, my class meets Harriet Shaw through a PBS NewsHour broadcast from 1991. An economic assistant for the Bureau of Labor Statistics (BLS), she is a professional shopper who tracks prices. In the newscast, we follow her up and down store aisles until…
Demonstrating Russia’s current plight, this graph so perfectly illustrates stagflation: When GDP sinks and inflation increases, the stagflation that results is tough to cure. If monetary authorities target inflation with tight monetary policy, then interest rates go up and further…
econlife®
Connecting economics with everyday life.
Located at the intersection of current events, history, and economics, econlife® slices away all of the layers that make economics boring and complex. We like economics and we would like for you to like it too.
