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the new arthurian economics factors the new arthurian economics challenging the premisses newer posts at econcrit start with the debt problem three views of it and the most important thing here s a longer look at the debt problem here s a short one on economic policy some surprising trends and a few unusual policy recommendations how d we get into this mess read policy venn and policies of the venn overlap still with me read a matter of life and death and for an overview download my 12 page pdf art s vigor page debt accumulation two new versions of an economic model showing how accumulating debt hurts economic growth 1 jerry s stand alone php version 2 my googledocs file mine brings up a preview window click the use this template button to open it introductory post google translate blog archive 2018 31 january 31 2017 274 december 31 november 26 october 21 september 23 august 27 july 21 june 17 may 21 april 13 march 25 february 25 january 24 2016 318 december 26 november 20 october 30 september 27 august 29 july 17 june 30 may 24 april 30 march 30 february 30 january 25 2015 283 december 7 november 11 october 21 september 23 august 26 july 27 june 26 may 30 april 25 march 28 february 27 january 32 2014 374 december 25 november 25 october 26 september 30 august 34 july 35 june 32 may 34 april 33 march 35 february 28 january 37 2013 412 december 33 november 31 october 35 september 32 august 33 july 36 june 31 may 36 april 39 march 40 february 31 january 35 2012 476 december 38 november 35 october 51 september 41 august 35 july 39 june 37 may 31 april 38 march 36 february 44 january 51 2011 571 december 44 november 38 october 41 september 53 august 54 july 52 june 50 may 45 april 54 march 46 february 37 january 57 2010 361 december 51 november 43 october 47 the inflation picture and there you have it federal debt and savings quick and dirty in excel alwaysland a defining moment premisses it is remarkable one for the record book ask marilyn the irs as philosopher the irs as comedian readme a hundred times the waste land must reduce debt more history of money money before lincoln lincoln the unifier what i was doing in 1977 what krugman was doing in 1978 loose ends from my recent notes on mmt dishonest in dallas the payroll tax holiday i m 61 the heart of the crisis adam smith explains the demise of aristocracy factors 2 factors 600 days and counting the origin of credit m1 and shostak and mish oh my a spontaneous definition of credit the key the growth of federal spending growth is measured by gdp what s wrong with this picture civilizations die from what it s a balancing act just changing numbers a second chance for warren mosler the seven deadly innocent frauds of warren mosler from an email art vs mmt the endless puzzle i save everything it drives the wife nuts the failure of supply side economics on regulation september 43 august 35 july 39 june 31 may 9 april 8 march 12 february 23 january 20 2009 79 december 17 november 10 october 14 september 20 august 3 july 7 june 4 april 1 march 1 february 1 january 1 links the 12 pages pdf html scribd money as credit paul krugman john mason gavin kennedy crisis timeline 1 crisis timeline 2 statistical abstracts measuringworth bea economic accounts bls inflation jobs flow of funds debt st louis fed fred money stock 1947 58 economagic usgovernmentspending top tax rates recession dates corp taxes 2006 irs tax data pk sources historicalstatistics org historical charts perot charts mark wieczorek the secret economist econompic john williams sgs crystal bull aquinum s razor flavianopolis william f hummell ecometry the l curve businomics blog on banking crises cybereconomics tim duy like a father to me worthwhile canadian the skeptical optimist nextblog better of thought action the troublesome economist the candid blogger blended purple frozen arctic tundra truth addicts anon jbpeebles mayday books dredd blog dolor s rants the 40 year old freshman thinking on the margin redonomics broad oak unsettling economics irrational expectations theory2life prac spoiler tips vin s read more faq s image host a very nice menu www w3 schools bloogger help image test and t2 blogger sentral html color codes google translate link within a page supreme court jester dave ross 1 dave ross 2 organize your stuff interesting jim kardi teknomo numerical ignorance mental workout g scaled data g normalized data tufte data analysis arthurian website about me contact labels real is a calculation 1 2 3 4 5 6 7 1966 1970s growth 1986 2000 2013 revision 400k smoothing a call for better argument a little r n r accelerated repayment of debt accidental discoveries adjusting debt for inflation artish b is greater than a b h finte behavioral ec best put downs bullard s earthquake c d of wealth calculating labor share civ civilization coinage coping cost and productivity cost push cost push inflation credit efficiency crisis chronicles cycle of civilization debasement debt debt and context debt and inflation debt and recovery debt bulge debt good and bad debt is not credit debt productivity debt to gdp debt to gdp in comments def credit def debt def economic activity def financial cost def gdp def general equilibrium def inflation def inside money def investment def issue and reissue def laffer limit def outside money deflation demand pull inflation disarray dpd echoes economic forces economics v the economy eroc erosion of debt evolution of the excuse expectations factors failure s embrace fallacy of composition fcm fed policy federal spending feedback loops final spending financial cost financialization five words five digit years forget about debt fpi fred free banking era full disclosure fun with the mpc gang8 gds gold shortage gresham s law gross domestic spending growth rate calc growth phase growth historical revisionism hoarding hodrick prescott household debt hover craft how to pay for it humor because you might not know if i didn t say i couldn t sleep iceberg inflation introduction is it ego captain jerry says krugman laffer curve limits long and variable loops malaise matched set fekete math problems medium of account military spending milton friedman mmt money multiplier more debt than money is policy motives moving average new tools of policy non linear not only household debt oil parameters for debt pfi policy predicting recession price controls printing vs spending problem x productivity questions r reading and writing red and green reduction reviews scott sumner sequence 2 serfdom simulacron simulated evidence slack special report spreadsheeting stagflation standard deviation star trek stimulus sumner symmetry in deception taxes taylor rule the difference between debt and credit the economy is transaction the k r shift the long decline the supply side the tint knob they don t know timeline tongue in cheek tot ulc umic unsustainable urgency verdoorn waste fraud abuse withering shoots zoho the new arthurian economics copyright 2010 2018 arthur shipman monday october 11 2010 factors not long ago i posted an excerpt from the marc bloch book feudal society it didn t work i couldn t read it myself on paper it was great and typing it all in helped me see even more in his words but on the computer screen it just didn t work i have to post an excerpt here from adam smith it is unquestionably one of the best parts of the wealth of nations but i will tweak it as needed to try to make it readable forgive me i change spelling labour and punctuation and paragraph breaks i hesitate to change the words of adam smith i omit some words and change an occasional word when you see the words the profits of stock think the profits of capital if all else fails and you don t have a copy of the book you can 1 click the post title to get the post on a page by itself and 2 print the thing out we live in a fast paced world i recommend reading adam smith slowly and savoring his words if it helps remember that he lived at the peak of the cycle of civilization and we live amid accelerating decline the wealth of nations by adam smith 1776 book one chapter vi of the component parts of the price of commodities in that early and rude state of society which precedes both the accumulation of stock and the appropriation of land the proportion between quantities of labor necessary for acquiring different objects seems to be the only circumstance which can afford any rule for exchanging them if among a nation of hunters for example it usually costs twice the labor to kill a beaver which it does to kill a deer one beaver should naturally exchange for or be worth two deer in this state of things the whole produce of labor belongs to the laborer and the quantity of labor commonly employed in acquiring or producing a commodity is the only circumstance which can regulate the quantity of labor which it ought commonly to exchange for as soon as stock has accumulated in the hands of particular persons some of them will naturally employ it in setting to work industrious people whom they will supply with materials and subsistence in order to make a profit by the sale of their work or by what their labor adds to the value of the materials in exchanging the complete manufacture over and above what may be sufficient to pay the price of the materials and the wages of the workmen something must be given for the profits of the undertaker of the work who hazards his stock in this venture the value which the workmen add to the materials therefore resolves itself in this case into two parts one of which pays their wages the other the profits of their employer in this state of things the whole produce of labor does not always belong to the laborer he must in most cases share it with the owner of the stock which employs him as soon as the land of any country has all become private property the landlords like all other men love to reap where they never sowed and demand a rent even for its natural produce the wood of the forest the grass of the field and all the natural fruits of the earth which when land was in common cost the laborer only the trouble of gathering them come to have an additional price fixed upon them this portion or the price of this portion constitutes the rent of land and in the price of the greater part of commodities makes a third component part in every society the price of every commodity finally resolves itself into some one or other or all of these three parts and in every improved society all the three enter more or less as component parts into the price of the far greater part of commodities the revenue derived from from labor is called wages that derived from stock by the person who manages or employs it is called profit the revenue which proceeds altogether from land is called rent and belongs to the landlord all taxes and all the revenue which is founded upon them all salaries pensions and annuities of every kind are ultimately derived from some one or other of those three original sources of revenue a brief summary of a very important concept and a great pleasure to read posted by the arthurian at 4 58 am labels 1 factors no comments post a comment newer post older post home subscribe to post comments atom you can lead a horse to water but you can t make him drink stay thirsty my friends fred graphs federal reserve bank of st louis 2016 all rights reserved all fred graphs appear courtesy of federal reserve bank of st louis http research stlouisfed org fred2 the st louis fed
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