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What if Paul Volcker hadn't tried to squeeze inflation out of the economy by pushing the Fed Funds rate to 20% in the period 1979-83? How did this effort change history? The driving force in this simulation is the price level p. It is assumed that inflation starting in 1940 is a constant 4% per year...
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Answer to Micah71381
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I just read the The Neurotic Personality of Our Time " by Karen Horney, and am working on the idea the liberalism is a "situational neurosis," as opposed to a "character neurosis." The core of a neurosis is anxiety, and one of the defenses is inhibition. Suppose an inhibited...
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National Review Online has the policy of monitoring the comments posted by readers. One of its senior editors (Ramesh Ponnuru) wrote a long article about the economy that was published on April 6. This was my comment: I told the following true story to Murray Rothbard, a famous economist, who expressed...
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This is probably the only site on the Web that I have found concerning economics that might be able to answer my question. Kenyan Multiplier= 1/1 {1-MPC} or 1/MPS basically I need help finding statistical information that can help me find MPC and MPS. I am thinking that MPS is disposable income-personal...
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Hi, I'm working the following idea up to be an intro to an article on inflationists throughout history. Could you guys let me know if you can find any holes in the argument? Much of what is today called "macroeconomics" is not actually economics. It would be better described as a sub-discipline...
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I have through the years encountered explanations of economic concepts that I do not understand. Moreover, I have met other people who also do not understand. What are these mainstream economists motivated by? I would guess a large part of their motivation is that they are perceived as more intelligent...
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In my Macroeconomics class, we have just been given an project concerning economic development in a country of our choosing (we chose a former Soviet satellite and de-facto dictatorship, Belarus). To make it more interesting, my teacher allowed the class to break up into separate groups, depending on...
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I just read an article saying that it appears that China, and perhaps the other BRIC countries, is exploring (and actively moving toward) the idea of implementing Keynes Bankor global currency idea. Does anyone know anything about this proposal and its consequences? There is no mention of it on Wikipedia...
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Are these fact, or fiction? 1. World War II got the US out of the Great Depression 2. By inflating the currency, the Fed (or treasury) helps the economy by stopping unemployment 3. Increasing taxes increases consumption and investment in the long term. 4. Decreasing government spending creates a recession...