This week’s economic news summary includes the diner’s dilemma and marginal analysis, property rights in outer space, the Phillip’s Curve and unemployment.
Showing the connection between inflation and unemployment, the Phillips Curve has been re-interpreted, re-affirmed and condemned as a monetary policy tool.
This week’s everyday economics stories involved quantitative easing, monetary and fiscal policy, supply and demand, ROI, GDP, unemployment and inflation.
When the Federal Reserve’s three basic monetary policy tools did not work, it created quantitative easing to up economic growth and decrease unemployment.
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…
Quantitative easing began and continues in front of a computer. If you had visited the Fed when QE1 was being implemented, you would have seen several people, daily, sitting in front of a computer, selecting securities and then buying them. Keeping…
Sort of like Max in Maurice Sendak’s, Where the Wild Things Are, the Federal Reserve sometimes says, “And now, let the wild rumpus start.” Then though, Max cries out, “Now stop!” and sends “the wild things to bed without their…
At a 2002 conference honoring Milton Friedman on his 90th birthday, then Federal Reserve Governor Ben Bernanke concluded his remarks with… “Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do…
10 years ago, the future Federal Reserve Chairman Ben Bernanke said to Nobel laureate Milton Friedman, “Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.” What won’t they…
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