If the real economy, the economy of making goods and services that improve people's lives is to recover, we need to make banking boring again. We need to focus on how to create goods, services, productive processes and real businesses. These means giving up the gin, poker, and roulette games of high finance. It will … Continue reading Krugman: Make Banking Boring
Day: April 10, 2009
Mind the Wage Gap
The real roots of the current crisis are structural changes in the American economy in the last generation. We continued to fuel "prosperity" from increasing consumption of the middle and upper classes. But, the during this period the middle class saw flat real incomes. To keep increasing our lifestyle, we had to borrow. Why? Because … Continue reading Mind the Wage Gap
EconProph 