Bad Time to Graduate

Paul Krugman notes how it's a very bad time to be under age 24, graduating with a Bachelor's degree, and not continuing onto further education. In other words, looking for a college-education job. I’ve been doing some data-grubbing for textbook revision, and found myself looking at employment data on young (<24) college graduates, which is … Continue reading Bad Time to Graduate

Who’s Ignorant on Spending? Voters or “Experts”?

The new Republican-led Congress is trying to get started on it's campaign promise cut spending. Apparently it's not as easy as they thought.  Part of the problem is their ignorance about the federal budget and budget process (see GOP Cuts Budget with Axe).  But not understanding the difference between an appropriation bill and an authorization … Continue reading Who’s Ignorant on Spending? Voters or “Experts”?

Technology, Growth and Printing Press

We know that new technology and information technology in particular can spark enormous long-run economic growth. Today we're in the middle of an explosion of new info technologies based on computers, networks, and the Internet.  The last time the world experienced a similar phenomenon was probably the invention of printing via moveable type by Gutenberg … Continue reading Technology, Growth and Printing Press