Framing the Dialogue

Posts Tagged ‘economist’

U6

As I was doing some research on unemployment numbers I came across a gem of a news story.  This economist was disparaging the President about his U6 unemployment numbers,

“U6, the broadest measure of unemployment and underemployment from the Bureau of Labor Statistics. (No data available before 1994.) You can still argue that presidents really don’t have that much influence on the economy. But…supporters eagerly claimed that downward stretch…coinciding with the worst excesses of the housing bubble.”

True American Hero – Milton Friedman

I have read the works of many great economists and the better ones have the innate ability to frame complex economic theories into words and images that are easily understandable.  On the other hand (a favorite economist phrase) perhaps all other economists make easy theories sound complicated.  Either way a favorite of mine is Milton Friedman.  Mr. Friedman has a quality that makes economics simple, practical, perhaps even fun.  Yes I said fun. 

The Liberal Hour

I guess I’d describe reading this book as if I was walking in a strange world…a liberal world…I didn’t like it.  It is interesting that liberals, like author John Kenneth Galbraith, from that era (this book was first published in 1960) were not quite as socialistic as they are today.  They were socialistic, but not as shrill.  Perhaps one of the endorsements on the back cover says it best, “a reasoned attack on the productivity ethic and a concrete, provocative program for altering the economic structure to maintain a new social balance.”  [emphasis added]

Update True American Hero – Vaclav Klaus

A while back I presented the Czech Republic’s President Vaclav Klaus as a True American Hero for his demonstrative free market views that paralleled those of America’s Founding Fathers.  If you paid any attention to the United Nations’ events last week you were inundated with coverage of Mamoud Imanutjob (I know it is spelled wrong, but the man doesn’t deserve my time to get it right) and our fretful leaders’ anemic response.  The United States needs to quit throwing money away at this group of thugs parading around in thousand dollar suits lamenting the plight of the poor.

My Turn At Bat

Sorry this is not a baseball post.  Those of us living in Pittsburgh with the hapless Pirates; holders of the longest losing streak of all professional sports (17 years and counting) don’t talk about much about professional baseball.  Our president gave his first pitch at a State of the Union speech and apparently did not hit the strike zone.  I confess to not watching as I could not bear to see Ms. Pelosi popping up every 30 seconds, Obama’s use of the words “I” or “me” a gazillion times or his unusual speech pattern whistling his S’s.  The fact that he is on television every 17 hours giving a speech did not weigh in his favor either.  I played tennis on our Wii (I achieved “Pro” status during his speech).

That Which Is Seen and That Which Is Not Seen

Frederic Bastiat was an infamous economist from France.  Bastiat was infamous because he was able to show the fallacies behind many government and false economic policies and he often did it with humor.  One of my favorite tactics that he uses is to take an economic argument to the extreme to expose the fallacy.  I have used this to “silence” the naïve.  I love it when they finally “get it.”