Kenneth Shiver

323 Added | 2 Magazines | 3 Likes | 145 Followers | @Econmgr | Kenneth is an economist and is interested in the intersection of economics, philosophy, and political economy.

An Einstein of the Dismal Science

Paul A. Samuelson modernized economics with his emphasis on mathematics. Eric Maskin reviews “Founder of Modern Economics, Vol. 1:” by Roger E. Backhouse.<p>Forty years ago, Paul A. Samuelson was a household name. The first American Nobel laureate in economics, he wrote a regular column for Newsweek …

Economics

The pendulum swings between globalisation and nation state

Globalisation and nation states have often made unhappy bedfellows. Borders get in the way of the free movement (and exchange) of goods, services, …

Economics

New Tools Needed to Track Technology’s Impact on Jobs, Panel Says

America needs new tools for the timely measurement and monitoring of technology, jobs and skills to cope with the advance of artificial intelligence and automation, an expert panel composed mainly of economists and computer scientists said in a new report.<p>The panel’s recommendations include the …

Artificial Intelligence

WSJ’s Daily Shot: If the Economy Is So Great, Why Are Wages Stuck in the Mud?

To receive the Daily Shot newsletter in your inbox, please sign up at our Email Center. Have questions, feedback or comments? Contact author Lev.Borodovsky@DowJones.com. The Daily Shot: 10-Apr-17 • The United States • Emerging Markets • The Eurozone • The United Kingdom • Global Developments • …

Dow Jones

Is It Better to Be Poor in Bangladesh or the Mississippi Delta?

The Nobel laureate Angus Deaton discusses extreme poverty, opioid addiction, Trump voters, robots, and rent-seeking.<p>Angus Deaton studies the grand questions not just of economics but of life. What makes people happy? How should we measure well-being? Should countries give foreign aid? What can and …

Disturbing New Facts About American Capitalism

“Let your winners run” is one of the oldest adages in investing. One of the newest ideas is that the winners may be running away with everything.<p>Modern capitalism is built on the idea that as companies get big, they become fat and happy, opening themselves up to lean and hungry competitors who can …

Investing

Why Does Economic Growth Keep Slowing Down?

Why Does Economic Growth Keep Slowing Down? Fernando Martin St. Louis Fed On the Economy, February 09, 2017 The U.S. economy expanded by 1.6 percent …

Economics

America the Stuck

The Census reports that a record-low share of Americans are moving. A recent paper suggests government policies might be curbing mobility.<p>Our ability to move to opportunity—our mobility—is a key factor in our own and our nation’s economic success. But the mobility of Americans has reached record …

Is Peter Navarro Wrong on Trade?

Whether the U.S. current account deficit is harmful or not to the U.S. economy depends on the assumptions we make about capital scarcity. In a world …

Economics

On Progress and Historical Change

Is progress inevitable? Is it natural? Is it fragile? Is it possible? Is it a problematic concept in the first place? Many people are reexamining …

Infinitesimal

Adam Tooze · A General Logic of Crisis

Amid all these events, Germany can easily seem like a bastion of stability, with ‘Merkel über alles’ its anthem. But beneath the smooth surface, …

Europe

This might be the best alternative yet to GDP as a way to measure a country’s growth

What if we didn’t measure a country’s growth by looking at its GDP?<p>Despite most advanced economies recovering from the recession—most of them had annual growth near 2% in 2016—the World Economic Forum (WEF) reports that between 2008 and 2013 (latest data available), median-per-capita income across …

Economics

Milton Friedman's Cherished Theory Is Laid to Rest

Economists bought his idea that consumers don't respond to temporary changes in their income. Wrong.<p>When you’re wrong, you’re wrong, no matter how famous and respected you might be as a scientist. Albert Einstein was wrong about quantum mechanics. Linus Pauling was wrong about the structure of DNA. …

Economics

The Fed's Point Man on Productivity

In the mid-1990s, when John Fernald had to write a memo for his bosses at the Federal Reserve on the merits of internet access at work, he was stumped.<p>“I couldn’t quite get what the benefit was,” he recalled in a recent interview.<p>Today, the Fed economist has a clear and very influential view. His …

U.S. Economy

Three Economists Walk Into a Bar

Investors who put too much stock in economic forecasts aren’t likely to be laughing for long<p>Why did God create economists? To make weather forecasters look good.<p>The joke’s an old one, but it’s been given new life after the chief economist of the Bank of England—among the most important jobs in the …

Stock Markets

WSJ’s Daily Shot: America: Too Many Retirees, Not Enough Workers

To receive the Daily Shot newsletter in your inbox, please sign up at our Email Center. Have questions, feedback or comments? Contact author Lev.Borodovsky@DowJones.com. The Daily Shot: 09-Jan-17 • The United States • Equity Markets • Emerging Markets • China • The Eurozone • The United Kingdom • …

Dow Jones

We Are Not the World

From Brexit to Trump to the rise of nationalist parties across Europe, the old division between left and right is giving way to a battle between self-styled patriots and confounded globalists<p>Late on a Sunday evening a little more than a year ago, Marine Le Pen took the stage in a depressed …

Globalization

Corporations Need a New Reason to Be

Putting shareholders first might finally be falling out of fashion. Thanks, Donald Trump!<p>Publicly traded corporations are at something of an impasse in the U.S. Their numbers are shrinking: from 7,507 in 1997 to not much more than 3,500 now. Their ranks are getting top-heavy, with most profits and …

Business School

Ten Economic Questions for 2017

Here is a review of the Ten Economic Questions for 2016.<p>Here are my ten questions for 2017. <b>I'll follow up with some thoughts on each of these</b> …

Economy

2016 in Graphics

Business & Finance<p>Economy<p>Technology<p>United States<p>U.S. Politics<p>2016 Election<p>Donald Trump<p>China<p>Brexit<p>World

U.S. Politics

A Conversation With Dan Ariely About What Shapes our Motivations

<i>Jessica Gross | Longreads | November 2016 | 14 minutes (3,711 words)</i><p><i>“It’s astonishing to me how some ideas endure even when it’s obvious that they</i> …

Jack Bogle Q&A: ‘We’re in the Middle of a Revolution’

Q&A With Jack Bogle: ‘We’re in the Middle of a Revolution’<p>By Michael Regan | November 23, 2016<p>Photographs by Larry Fink<p>From<p><b>John “Jack” Bogle</b> wrote …

Investing

We just saw what voters do when they feel screwed. Here’s the economic theory of why they do it

One of the most interesting experiments in economics is known as the ultimatum game. It deftly gets at a fundamental truth of human nature — about how our deep emotional programming cause us to do things that, when viewed through the lens of rationality, just don’t make sense.<p>The game itself …

Globalization

Big Ideas in Social Science: An Interview With Robert J. Shiller on Behavioral Economics

0<p>SHARES<p><i>The latest in a series of conversations with leading intellectuals in collaboration with the Social Science Bites podcast and the Social</i> …

How Sociopathic Capitalism Came to Rule the World

Corporate executives haven't always believed that transactions must have winners and losers. But that’s not Donald J. Trump’s view.<p>The stories we tell ourselves, far more than the evidence of scientific analysis, determine how we interpret the world around us. Accordingly, the fate of capitalism …

Sean Hannity

the case against the collapse of capitalism

Cometh the hour, cometh the cliché. In the case of Wolfgang Streeck, an influential German sociologist who is emeritus director of the Max Planck …

Economics

Big Dollars in Asteroid Mining - Full-Size

Economic history: ideas that built the world

<b>The great enrichment: Wentworth Works, file and steel manufacturers and exporters of iron in Sheffield c.1860 ©EVERETT COLLECTION/BRIDGEMAN …

The key to tackling climate change: electrify everything

Tackling climate change is a complicated undertaking, to say the least. But here’s a good rule of thumb for how to get started:<p>Electrify everything.<p>Replace technologies that still run on combustion, like gasoline vehicles and natural gas heating and cooling, with alternatives that run on …

Trend Job Growth: Where’s Normal?

Trend Job Growth: Where’s Normal? Rhys Bidder, Tim Mahedy, and Rob Valletta FRBSF Economic Letter 2016-32 | October 24, 2016 With the U.S. labor …

Economics