Keynes: Economic Visionary essays

Two years ago this would have been part of the zeitgeist: one of Barack Obama’s senior advisers, the economist Alan Krueger, was a noted expert in “subjective wellbeing” (happiness to you and me), while former UK prime minister David Cameron also championed the idea. It now seems strangely out of step with the times: whatever you think is driving Britain’s current PM Theresa May or US president Donald Trump, it seems unlikely to be surveys of life satisfaction.

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A Summary/Explanation of John Maynard Keynes' …
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John Maynard Keynes, 1883-1946 : economist, philosopher, statesman

A few weeks before Christmas, an impish appeared on the Bank of England’s unofficial blog. It compared plunging productivity with the soaring shipments of smartphones. Typical productivity growth in advanced economies had hovered steadily around 1 per cent a year for several decades, but has on average been negative since 2007. That was the year the iPhone started to ship.

John Maynard Keynes: 1883-1946: Economist, Philosopher, ..

A range of books passing across the desk at the moment! I’ve enjoyed Dan Ariely and Jeff Kreisler’s (US edition is which is a mashup of all the best in behavioural economics research, whimsical chat and financial advice. Fans of Dan’s earlier work will find this rather familiar – especially if they’ve also read the very good Why Smart People Make Big Money Mistakes () () by Belsky and Gilovich, which covers similar ground in a more sober style – but its a fun book with some wise advice.

Economics; Feature; May 19, 2014 Issue; Is Bitcoin the Future of Money
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23/10/2016 · What is keynesian economics

These are not small gaps. If there were some way to help good ideas to spread more quickly, more people would have good coffee and much else besides. One natural approach is for a laggard company to seek advice — perhaps from management consultants. A decade ago, economists at Berkeley, Stanford and the World Bank in which the bank paid for some textile factories in Mumbai to receive consulting advice from a global company. These factories tended to have utterly chaotic systems, so help with modern inventory management made a big difference. The factories saw their productivity transformed.

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More recently, those economists revisited the experiment. How much of the good advice had lasted? Had any of it spread? There was good news and bad news. The good news was that within companies that owned several factories, some of the good ideas first used in a single factory had been adopted across the company. But the bad news was that these proven management processes had not been copied by rival businesses.

Larry Page's vision of future looks like John Maynard Keynes' ..

But the tale grows murkier still. The economist Peter Garber, author of , points out that a rare tulip bulb could serve as the breeding stock for generations of valuable flowers; as its descendants became numerous, one would expect the price of individual bulbs to fall.

Smith and Keynes: The Economic …

Some of the most spectacular prices seem to have been empty tavern wagers by almost-penniless braggarts, ignored by serious traders but much noticed by moralists. The idea that Holland was economically convulsed is hard to support: the historian Anne Goldgar, author of Tulipmania () (), has been unable to find anyone who actually went bankrupt as a result.

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Even if you don’t much care about London’s coffee scene, this is an important question. William Gibson, science fiction author, observed that the future is already here — it’s just not evenly distributed. In that respect, it is much like good coffee. Economics agrees with Mr Gibson — which is fortunate, since he is little short of a prophet.