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eir own discretion almost continually upon one another and very frequently upon the king and the open country still continued to be a scene of violence rapine and disorder it was not feudal law according to adam smith but the growth of commerce and manufactures that brought order to the feudal era at august 09 2020 no comments email this blogthis share to x share to facebook share to pinterest saturday august 8 2020 adam smith on patriotism a merchant it has been said very properly is not necessarily the citizen of any particular country the wealth of nations book 3 chapter 4 at august 08 2020 no comments email this blogthis share to x share to facebook share to pinterest friday august 7 2020 adam smith on rising wages it is not the actual greatness of national wealth but its continual increase which occasions a rise in the wages of labour the wealth of nations book 1 chapter 8 22 at august 07 2020 no comments email this blogthis share to x share to facebook share to pinterest tuesday august 4 2020 3 however there is still something wrong with the economy at august 04 2020 no comments email this blogthis share to x share to facebook share to pinterest monday august 3 2020 the shutdown began with the nba according to the bleacherreport com timeline of coronavirus impact on sports on 11 march 2020 the nba suspended the 2019 20 season until further notice the nba opened the floodgates the next day the timeline shows there were suspensions or cancellations by the international tennis federation major league soccer the big ten u s soccer the nhl the nfl mlb minor league baseball the ncaa formula 1 and the pga tour among others i have a question the trump administration played no part in this wikipedia offers a timeline of the covid 19 pandemic in the united states here is a sampler for january on december 31 2019 the u s centers for disease control and prevention cdc became aware of cases in china and began developing reports for the department of health and human services hhs on january 1 on january 3 cdc director robert redfield was notified by a counterpart in china that a mysterious respiratory illness was spreading in wuhan china he notified hhs secretary alex azar who shared the report with the national security council nsc according to the washington post warnings about the virus were included in the president s daily brief in early january an indicator of the emphasis placed on the virus by the intelligence community on january 8 the cdc issued its first public alert about the coronavirus on january 9 the who issued a statement naming the disease as a new coronavirus in wuhan on january 10 the who issued a comprehensive package of guidance to countries on how to test for potential cases by this date the who warned of the risk of human to human transmission on january 14 the who held a press briefing stating that their information suggested a possibility of limited but not sustained human to human transmission on january 18 hhs secretary azar discussed the coronavirus outbreak with president donald trump who criticized azar for being alarmist on january 20 both the who and chinese authorities announced the confirmation that human to human transmission of the coronavirus had already occurred on january 20 chinese communist party general secretary xi jinping and state council premier li keqiang issued the first public warning about the coronavirus to chinese citizens on january 22 trump received his first public question from a reporter regarding whether he was concerned about the coronavirus trump responded no not at all and we have it totally under control it s one person coming in from china it s going to be just fine on january 23 the world health organization who published a statement on the coronavirus indicating that human to human transmission is occurring and a preliminary r0 estimate of 1 4 2 5 was presented on january 27 the who assessed the risk of the coronavirus to be high at the global level on january 29 the u s government evacuated 195 state department employees from wuhan the new york times reported that president trump was told at the time of a january 29 memo by trade adviser peter navarro that the coronavirus could cause as many as half a million deaths and trillions in economic damage further on january 30 hhs secretary azar warned president trump about the possibility of a pandemic on january 29 who health emergencies program leader dr mike ryan said in a press briefing the whole world needs to be on alert now and be ready for any cases that come from the epicenter at the time 68 cases had been confirmed outside china affecting persons in 15 countries on january 30 the who named the coronavirus outbreak that originated in wuhan china a public health emergency of international concern warning that all countries should be prepared for containment including active surveillance early detection isolation and case management contact tracing and prevention of onward spread the who also released a statement that included the committee believes that it is still possible to interrupt virus spread provided that countries put in place strong measures to detect disease early isolate and treat cases trace contacts and promote social distancing measures commensurate with the risk however the federal government and individual states did not direct their populations to practice social distancing e g stay at home except for essential travel until march 19 further as late as april 8 five states had no social distancing rules and three others had rules for only parts of the state on january 31 the trump administration through the u s department of health and human services declared a public health emergency and imposed a mandatory 14 day quarantine for any u s citizens who has visited hubei province in china within the preceding two weeks it also began denying entry of non u s nationals who had traveled to china within the preceding two weeks this was the first such travel restriction by the u s in more than 50 years president trump repeatedly claimed credit for acting early with the travel ban however the washington post reported that 300 000 people traveled to the u s from china during the month prior to the ban the new york times reported that more than 40 000 persons traveled from china to the u s after the january 31 partial ban and around 430 000 total between the december 31 disclosure of the outbreak by china and april 4 the washington post reported that six other countries had restricted travel from china before january 30 six did so on january 31 and by the time u s travel restrictions became effective on february 2 38 other countries had taken action before or at the same time as the u s restrictions the earliest action was singapore on january 23 flights from europe were not banned until march 11 with hundreds of thousands crossing the atlantic into the u s due to disputes about the impact on the u s economy among trump administration officials on 11 march 2020 the nba suspended the 2019 20 season however the federal government and individual states did not direct their populations to practice social distancing e g stay at home except for essential travel until march 19 i guess that answers my question at august 03 2020 no comments email this blogthis share to x share to facebook share to pinterest sunday august 2 2020 donald trump from trump asks why don t i have a high approval on the coronavirus when fauci does at cnbc we could have gotten other people we could have gotten somebody else it didn t have to be dr fauci trump said at the presser on tuesday evening he s working with our administration and for the most part we ve done pretty much what he and others dr deborah birx and others who are terrific recommended it sort of is curious a man works for us with us very closely dr fauci and dr birx also highly thought of and yet they re highly thought of but nobody likes me trump said at august 02 2020 no comments email this blogthis share to x share to facebook share to pinterest saturday august 1 2020 anthony fauci from an interview with anthony fauci at wired do you think the president understands how science works yeah i believe so i believe so but what goes through your mind when you hear the argument he makes that the high numbers of infections are a result of testing it s not going to be helpful or productive for what i need to do in my role as a public health official and a scientist and a physician to try and get our arms around this outbreak and to do the kinds of things and the kind of work that we do if i start going one on one and contradicting what the president said at august 01 2020 no comments email this blogthis share to x share to facebook share to pinterest newer posts older posts home subscribe to posts atom why economists must think in terms of the cycle of civilization i ve been hearing the phrase late capitalism for so long that i m forced to conclude that the very concept of late cap looks like vigor to me went to harbor freight the other day when i left there was so much traffic i had to fight my way out of the parking lot at one p m on let s see if this one gets me into trouble as i write this it is mid october in an even numbered year elections are weeks away yesterday i saw republican candidates heavily adver not the rate of interest but the cost of finance not inflation but the decline of growth it is surely true that the price level cannot rise without a corresponding increase in the quantity of money or velocity or use of credit the most important difference between cost push and demand pull inflation i m not a fan of diagrams in economics but sometimes this is a screen capture of slide 36 from a slideshare presentatio federal debt is the measure of economic troubles in the private sector not the cause of them the cause is excessive private sector debt private debt is too big and too costly it slows the economy it slows income growth it makes decent jobs scarce we lost our greatness to excessive private sector debt we can regain american greatness by reducing private debt if we do so before china has all the greatness note that we have many policies to encourage the use of credit and no policies to encourage repayment of debt selected fred data free ebooks forever fadedpage levy institute publications art s old vigor page click folder tab to view contents quick quotes on debt sbt hover for the quote click for the source steve keen sbe thomas palley sbe palley again same source sbe arthurian spontaneous sbe arthurian sbe id a j toynbee a study of history unabridged vol 1 page 1 abridgement vol 1 thru 10 id mostly old cost push stuff 1937 the general theory of employment 1958 the phillips curve paper 1959 charles schultze recent inflation in the united states 1960 richard lipsey on the phillips curve 1960 samuelson and solow problem of achieving and maintaining a stable price level 1962 arthur okun potential gdp its measurement and significance 1968 friedman s presidential address the role of monetary policy or alt link 1970 milton friedman the counter revolution in monetary theory 1974 f a hayek prize lecture the pretense of knowledge 1977 thomas m humphrey on cost push theories of inflation in the pre war monetary literature id papers by johannes a schwarzer sbt samuelson and solow on the phillips curve and the menu of choice a retrospective 2013 sbe growth as an objective of economic policy in the early 1960s the role of aggregate demand 2014 sbe price stability versus full employment the phillips curve dilemma reconsidered 2016 sbe retrospectives cost push and demand pull inflation milton friedman and the cruel dilemma 2018 sbe id papers by norikazu takami 1950s cost push sbt baffling inflation cost push inflation theories in the late 1950s united states 2014 sbe the baffling new inflation how cost push inflation theories influenced policy debate in the late 1950s united states 2015 sbe id archive org links sbt archive org home sbe note at archive org the upper right corner search is for all of archive org to search the open book click the search icon on the left side of the window and use quotes around search phrases sbe historical statistics thru 1970 part 1 arrighi g the long twentieth century dalio r economic principles how the economic machine works delong h a profile of mathematical logic r c k ensor england 1870 1914 finley m i the ancient economy friedman m free to choose friedman m money mischief kissinger h the meaning of history reflections on spengler toynbee and kant leuchtenburg w franklin d roosevelt and the new deal leuchtenburg w the perils of prosperity lot ferdinand the end of the ancient world and the beginnings of the middle ages montagu a toynbee and history critical essays and reviews mullineux a w business cycles and financial crises quigley the evolution of civilizations rostovtzeff the social and economic history of the roman empire terborgh george the new economics tooke thomas an inquiry into the currency principle toynbee aj a study of history volumes i vi abridged wanniski jude the way the world works sbe id timelines industrial capitalism sbe mercantile capitalism sbe 10000 years of economy sbe id blog themes and on the pedestal these words appear my name is ozymandias king of kings look on my works ye mighty and despair nothing beside remains shelley toynbee maintained that the fate of civilizations is determined by their response to the challenges facing them stefan zenker the ideas of economists and political philosophers both when they are right and when they are wrong are more powerful than is commonly understood indeed the world is ruled by little else j m keynes economic policy encourages credit use and discourages the repayment of debt that s how we in the private sector got so indebted nathan becker attempts to describe complex interactions in the economy with overly simple adages can lead to incorrect conclusions meyer and tasci i remarked that a plurality of suffrages is no guarantee of truth where it is at all of difficult discovery as in such cases it is much more likely that it will be found by one than by many descartes i have thought it important not only to explain my own point of view but also to show in what respects it departs from the prevailing theory j m keynes blogthemes blog archive 2025 136 october 4 september 19 august 12 july 6 june 10 may 11 april 23 march 19 february 11 january 21 2024 100 december 15 november 9 october 14 september 10 august 7 july 12 june 7 may 3 march 13 february 7 january 3 2023 118 december 6 november 15 october 8 september 8 august 4 july 3 june 16 may 15 april 12 march 8 february 12 january 11 2022 159 december 22 november 17 october 13 september 6 august 4 july 9 june 12 may 4 april 11 march 22 february 15 january 24 2021 204 december 8 november 21 october 15 september 17 august 11 july 13 june 22 may 19 april 17 march 22 february 18 january 21 2020 139 december 20 november 20 oc...