75th Anniversary of a Revolution

Today, February 4, 2011, is the 75th anniversary of the publication of John Maynard Keynes's book The General Theory of Employment, Interest, and Money".  Like Adam Smith with the Wealth of  Nations and Karl Marx with Das Kapital, it's a book that has inspired millions, both as alleged supporters and as supposed opponents, most of … Continue reading 75th Anniversary of a Revolution

Employment News, A Muddle – Part 2

In this post, I'm going to look at the methodology that produces our monthly employment reports because with today's report, it's particularly timely. As mentioned in the first post, the employment situation report for January 2011 is a real muddle, full of apparent contradiction. The obvious contradiction is 36,000 new jobs (an incredibly weak number) … Continue reading Employment News, A Muddle – Part 2

Employment News, A Muddle – Part 1

It's first Friday of the month and time for the employment report. And we've got quite a muddle on our hands.  The headline numbers, what the media will highlight and the politicians spin, show a big decline in unemployment rate but with a very disappointing number of new jobs.  That's conflicted enough, but the muddle … Continue reading Employment News, A Muddle – Part 1