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e it was not working the msgbox kept telling me that the typename was empty when it should have been an insert or something but definitely not empty why am i looking for the type name insert instead of the ss count value because this is the development stage if the code tells me it has an insert then i trust that it found the insert named infoblock that is a lot more feedback than i get from the value of ss count you can see in the sub that i started revising my call to getinfoblock the green lines are the first version they are green because i made them comments that way they don t do anything but i still have them handy in case i need them again and below the two green lines in the sub is another attempt to have the thing tell me that an insert is an insert still didn t work so then since there was nothing left to look at in the sub i started looking for an error in the function got it the code i had in mind to write was if ss count 1 but what i actually wrote was if ss count 1 nice right the equal key and the minus key are right next to each other on the keyboard and i hit the wrong one for test purposes i had exactly one infoblock in my drawing so the ss count value was always one in my tests but because i wrote if ss count 1 the code was subtracting one from the ss count which gave the value zero so the code was saying if zero then do stuff if zero on a computer always comes back false and because it came back false my do stuff command just didn t get done so i changed the minus sign to an equal sign and then it worked okay long story that s because i m doing in english something that is more easily done in vba and trying to provide some background besides forgive me and what s the point of this long story the whole big long seemingly complicated problem was solved by changing a minus sign to an equal sign finding the problem took some doing sure but the problem itself was extremely simple as was the fix got it that s the same level of difficulty as our economic problem posted by the arthurian at 4 00 am 0 comments saturday december 25 2010 relentless the ground is frozen but the dandelions don t care one gone to seed and one still trying to bloom on 25 december upper right not always as obvious as niagara falls and often easily overlooked the relentless forces of nature are not unlike economic forces posted by the arthurian at 12 12 pm 0 comments comment 88 krugman the opinion pages 12 december 2010 the root of our current troubles lies in the debt american families ran up during the bush era housing bubble twenty years ago the average american household s debt was 83 percent of its income by a decade ago that had crept up to 92 percent but by late 2007 debts were 130 percent of income source contrahour at seeking alpha so it s bush s fault too much politics in krugman and too short a timeline of debt growth and it s not just the debt of families it s all debt but the biggest fastest increase was in financial sector debt which came out of nowhere and took the lead that s where the crisis hit the fan by the way finance moving on comment 88 on krugman s article the third comment here opens thus it seems to me that if the problem is lack of demand because household debt is too high and households are going through a process of deleveraging that we should not try to fix the problem by adding to the debt of our highly indebted public sector comment 88 strikes me as a very popular view but also quite confused i applaud the commenter s explicit identification of debt household debt here public sector debt there indeed most people just call it debt which makes the whole thing a jumble with no solution i ve done the same myself so i know that being explicit about whose debt is whose is very useful if people were not all so caught up in debt as a bad bad thing it would be easy to see that comment 88 is quite confused we don t want to try to fix the problem of household debt by adding to public debt but why not is it because public debt is unrelated to household debt so that adding to public debt is an irrelevant solution is it because public debt is related to household debt in some way that makes adding to public debt harmful to the household debt problem those are the only choices unrelated or related still public and household debt could be related in some way that makes adding to public debt beneficial to the household debt problem people just naturally assume that s not the case because debt is a bad bad thing i m not so sure to borrow an opening from comment 88 it seems to me that if the problem is lack of demand because household debt is too high and households are going through a process of deleveraging that we should fix the problem by reducing household debt as a matter of policy the arthurian solution is not to increase public sector debt but to reduce private sector debt i don t know why nobody else has picked up on this everybody says the problem was created by excessive debt in the private sector and everybody says private sector debt must fall before the economy can recover but nobody says we should use policy to help reduce existing debt policy is still all the other way we need to get everybody using more credit because that s what makes the economy grow well yeah but the accumulation of debt that results from that strategy is the thing that inhibits growth so if we cut in half the existing private sector debt the private sector will be prepared to grow again and then it may be time to say we need to get everybody using more credit again merry christmas posted by the arthurian at 4 00 am 0 comments friday december 24 2010 it s from the hunt for red october checking my numbers re creating the debt per dollar graph preparing for another post oh google has added more chart features playtime okay so using the same three source numbers for total debt that i ve been using for a while now and a good set of numbers for m1 money i re created my dpd graph ah yes it hits 10 in 1978 20 in 1998 30 in 2006 and peaks in 2007 at 35 of debt for every dollar of money in circulation and they couldn t predict the financial crisis amazing as before the blue red and gold trend lines indicate the three different data sources and the mis match from 1956 to 1970 is still present and again the mismatch doesn t bother me because it s the best data i could find i haven t yet figured out how to increase the size of the chart title obviously sticking html code in there didn t help at all so then i took and edited the graph all i did actually was click the log scale checkbox all the same numbers just a different view of them this is the result now we have three really very straight trend lines up until about 1932 then down until about 1948 and then a really long straight line uptrend for 60 years to the paulson crisis of 2008 the crisis nobody saw coming when i first saw the log scale graph my reaction was immediate now that s gotta be man made posted by the arthurian at 4 00 am 0 comments thursday december 23 2010 it didn t worry adam smith from mine of 22 december today cost is divided between wages and profit with some to rent and much to a fourth factor that was less significant in smith s time the cost of interest i am not the first to add a factor to adam smith s list entrepreneurship is often added as a factor but as roger leroy miller notes entrepreneurship is actually a subdivision of labor economics today seventh edition harper collins page 22 my view it s just ego that wants to distinguish the entrepreneur from the riffraff of labor according to smith payment for someone s time and effort talent and skill is wages paid to labor plain and simple let s keep the ego out of it another item sometimes added to the list is government this is a more reasonable addition for a cost is clearly associated with government still to call it a factor of production is somehow not right anyway smith explicitly excluded government from his list of factors 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 and are paid either immediately or mediately from the wages of labour the profits of stock or the rent of land of course in the same paragraph where smith rejects taxes as a factor cost he also rejects interest the interest of money is always a derivative revenue which if it is not paid from the profit which is made by the use of the money must be paid from some other source of revenue my view is that interest has become such a large cost in our economy that it deserves to be broken out as a separate cost factor this way we can watch it and compare the growth of interest costs to the growth of profits and wages and rent it is not interesting to me anyway to break out entrepreneurship from the body of labor and make this comparison on second thought maybe one day i ll do that but there is something to be said for breaking out the cost of government as a separate factor cost because like interest it seems to have grown substantially as a portion of total costs in our economy the fact that adam smith refused to include government as a separate cost makes one wonder whether that cost like interest was significantly lower in smith s time apparently it was not i have this picture that shows a mountain of government debt u k government debt and i stuck an arrow on that picture to identify the year that the wealth of nations was published the year is easy to remember 1776 same year as our declaration of independence same year that the decline and fall of the roman empire was published peak of the cycle of civilization i say net public debt of the u k was over 100 of gdp in 1776 and recently had been over 150 but adam smith didn t think it was even worth noting and he did not consider the cost of government significant enough to list it as a factor cost posted by the arthurian at 4 00 am 0 comments wednesday december 22 2010 the economy is composed entirely of transactions any other view is micro management posted by the arthurian at 5 41 am 0 comments cost there will be a quiz at the end the factors of production the following table lists a few textbooks showing the page number where the factors of production are discussed and a snippet of discussion date title author page excerpt 1958 economics paul a samuelson 575 our traditional account of capital theory begins with a rather arbitrary division of all productive factors into three categories 1969 economics richard g lipsey peter o steiner 380 producers require land labor raw materials machines and other factors of production because these are needed to produce the goods and services that the firm sells 1975 economics campbell r mcconnell n a n a 1988 economics edwin g dolan david e lindsey 698 factor markets are important in determining how goods and services are produced 2000 macroeconomics n gregory mankiw 44 factors of production are the inputs used to produce goods and services 2001 economics william j baumol alan s blinder 330 factors of production are the broad categories into which we divide the economy s different productive inputs i find it strange that the factors are typically not introduced early in these textbooks i find it even more odd that none of these textbook authors are inclined to stress the importance of cost as the reason to have factor categories i include the 1975 book on the list because that s the book we used in the macro course i took the importance of the factors of production does not arise from the fact that they are arbitrary divisions nor because they are broad categories the factors are important because they are used in the production of goods and services as some of the textbooks note but they are not important because they are needed to produce the goods and services that the firm sells the factors are important because they are the components of cost adam smith writes in every society the price of every commodity finally resolves itself into some one or other or all of those three parts and in every improved society all three enter more or less as component parts into the price of the far greater part of commodities the factors of production are cost categories adam smith identified three categories land labor and capital with each category he associated a cost rent wages and profits the factors are important because they allow us to analyze economic performance in terms of cost today cost is divided between wages and profit with some to rent and much to a fourth factor that was less significant in smith s time the cost of interest the economy is composed entirely of transactions in every transaction cost is a consideration often it is the most important consideration this is the reason that factor costs are important and that is why the factors of production are important because the economy consists of transactions because transactions always occur at the intersection of cost and price and because cost is always the limiting factor we are always willing to accept more in payment but we are not always willing to pay more cost is the most significant of all of economic forces i am not satisfied that economists are aware of the significance of cost either in regard to our economy in general or to the factors in particular reviewing the snippets in the above table it is not clear that any of the textbook authors are even vaguely aware cost is the central concern that gives importance to the factors of production quiz as promised q what is the most significant of all of economic forces a cost q what has the most influence on economic performance a cost q what is the limiting factor in every transaction a cost q what gives importance to the factors of production a cost posted by the arthurian at 4 00 am 0 comments tuesday december 21 2010 at the intersection of supply and demand price is what we charge for goods and services cost is what we pay cost is a point on the demand curve price is a point on the supply curve where the two curves cross cost and price are equal and a transaction may occur cf posted by the arthurian at 4 00 am 4 comments monday december 20 2010 the fair labor standards act of 1938 from elementary economics by fred rogers fairchild edgar stevenson furniss and norman sydney buck of yale university the macmillan company new york fourth edition 1939 pages 448 49 the united states fair labor standards act of 1938 the latest attempt of the united states federal government to establish minimum wages on a nation wide scale took the form of a law bearing the above title which was approved on june 25 1938 in the industries to which it is applicable the law attempts to establish maximum weekly hours as well as minimum hourly wages the provisions for maximum hours are as follows 44 hours per week during the first year i e until november 1939 42 hours per week during the second year 40 hours per week there...
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