All Posts Tagged With: "national savings rate"
The Right Amount of Manufacturing
Mark Perry, an economics professor at the University of Michigan, recently pointed out that in 2009 the U.S. economy had the world’s largest manufacturing sector. (The most recent data show that China’s sector edged out the United States because of our slow economic recovery.) Every year since 2004 U.S. manufacturing output, in constant 2005 dollars, [...]
22Jun2011 | David R. Henderson | 7 comments | ContinuedConsumer Spending Drives the Economy?
Consumer spending makes up more than 70 percent of the economy, and it usually drives growth during economic recoveries.” —“Consumers Give Boost to Economy,” New York Times, May 1 Every quarter, when the government releases its latest GDP figures, we hear the familiar refrain: “What the consumer does is vital for economic growth.” “If the [...]
22Sep2010 | Mark Skousen | 26 comments | ContinuedWhatever Happened to Thrift? Why Americans Don’t Save and What to Do about It
Keynesianism is back in vogue, and prominent economists are dusting off their discussions of the “paradox of thrift.” So amid the apologies for bigger government deficits, it is refreshing to read Ronald Wilcox’s Whatever Happened to Thrift? For those interested in the subject of saving, this volume is a good read. Too often when I [...]
29Jun2010 | Robert P. Murphy | 0 comments | ContinuedThe Fed’s Potent Power
The Federal Reserve holds the fate of the U.S. economy in its hands. Or that’s the conclusion many observers draw when they watch investors react wildly to the most minute details of the Fed’s policy statements. This conclusion is at once exaggerated and accurate. It’s exaggerated because, at bottom, the Fed controls only the supply [...]
1Jan2007 | Donald J. Boudreaux | 1 comment | ContinuedBritain’s Pension Problem: Government Failure
Proposals to privatize part of Social Security have met with an outcry from predictable quarters. Many articles have referred, unfavorably, to British experience and suggested that the United States may simply be following the same failed route as Britain. As a British observer of that debate, I am not alone in finding the parodies of [...]
1May2005 | Philip Booth | 1 comment | ContinuedWill the Savings Crisis Lead to Stagnation?
“There is a virtuous cycle in which high growth promotes high saving, and high saving in turn promotes high growth.” —Joseph Stigltz, Chief Economist, The World Bank “America’s Expansion Cannot Be Sustained.” —The Economist, November 6, 1999 In a return to the principles of classical economics, more and more economists agree that thrift is a [...]
1Mar2000 | Mark Skousen | 0 comments | ContinuedGetting Published: An Austrian Triumph
Dr. Skousen is an economist at Rollins College, Department of Economics, Winter Park, Florida 32789, and editor of Forecasts & Strategies, one of the largest investment newsletters. A reprint of “The Perseverance of Paul Samuelson’s Economics” (including Professor Samuelson’s response) is available from FEE for $3.00, postpaid. “[Austrian economists] feel they’ve been frozen out of [...]
1Sep1997 | Mark Skousen | 0 comments | Continued-
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