A Brave Army of Heretics -economicprincipals.com
For the last 125 years, however, ever since the views of Leon Walras and other theorists of general equilibrium became encoded in a famous textbook of Alfred Marshall (or, rather, partially encoded), technical economists have viewed the economy as a system in which individuals deal with one another only [...]
Wikipedia defines economic elasticity as follows:
In economics, elasticity is the ratio of the proportionate change in one variable with respect to proportional change in another variable, such as the responsiveness of the price of a commodity to changes in market demand or visa-versa. In terms of elasticity, a market or good can be described as [...]
Mortgage Delinquencies and Foreclosures
Conclusion The realtor’s mantra is “location, location, location,” and, as I have discussed this evening, local variation in housing and mortgage markets is considerable. This variation is useful for understanding the sources of the increase in mortgage delinquencies and foreclosures, and it should be taken into account [...]
The more George Soros talks, the less people care what he thinks.
Commentary: But where’d the hops go?
Ever since liquor stores started sticking notes on their coolers letting us know that the price of my beloved beer would have to go up due to the rising price hops, I’ve assumed it something to do with either the cost of fuel or the displacement of hops crops by corn being turned into [...]