• Cocktail and Dinner Party Economics
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  • Dinner Party Economics

We’re Up a Tree

We have failed to recognize that we are at a technological plateau and the trees are more bare than we would like to think. pg 7     The Great Stagnation:  How America Ate All the Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better by Tyler Cowen This book reads like a Talk rather than a typical non-fiction book.  The pace is fast and furious with lots of repetition of the major theme.  The theme is that the standard of living– as measured by median family income– has stagnated since 1973 because there are no more easy ways left to grow the economy.  He calls these easy ways  ‘the low hanging fruit’.  So what was so great about the past?

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Keynes’ and TED’s Xcellent Adventures

Guys your report had better be something very special. From Bill and Ted’s Excellent adventures (1989) I am going to be part of TEDx at the University of Guelph with the theme Perceiving Past the Paradigm Since the beginning of the twentieth century, economics has gone through three episodes which are usually referred to as revolutions – the Keynesian revolution, the Monetarist counter-revolution and the rational expectations (or new classical) revolution. There are a couple of ways to perceive past a paradigm. One is to skim over the top of one model in search of another. Essentially start from scratch each time.  The other is to look so deeply into the prevailing model that you reach the bottom of it and then make the necessary changes to keep it relevant. I will defend the latter approach. Evie

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