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July 2011

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29

economics thought excercises part 1: getting the feel

July 20, 2011 – Comments (45)

So it happened that a couple of months ago I had a long drive, 7 hours in fact, and I got to thinking.  We have all these "schools" of economic thought, we have the keynesians who think governments should deficit spend like mad during recessions and save during the boom years, we have austrians who tend to oppose government activity in the economy in general and make some nice points about malinvestment and such.  We have all of this discussion of monetary policy and interest rates and stuff, we have this, we have that.  In all honesty I have never had any interest in economics save forced interest via my participation in markets these last 2.5 years, I had an econ class in college but I was drunk that semester and all I remember is supply and demand setting pricing and "there is no such thing as a free lunch".  I struggled to make sense of it all, all these views (who frequently believe they are in conflict) and I couldn't.    [more]

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26

Understanding hyperinflation: courtesy of a mountain man

July 07, 2011 – Comments (14)

There is a man in these parts, who would call me one of his perhaps 5 friends, called Monrow.  Monrow stands about 6'4, weighs near as krikies 300 pounds, has an unkempt beard and a black pony tail down the middle of his back.  He owns a small handful of businesses, recently leaving these parts to start another in a town a couple hours away.   He is easily one of the most memorable characters I have come across, and thats saying something as i've met some pretty interesting people.    [more]

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