Monthly Archives: September 2015

The Social Construct of Purchasing Power Parity

Why are some countries rich while other countries are poor? And how is national income distributed? It really depends on how poverty and prices are measured and compared. One common construct used by the International Monetary Fund (IMF) is the … Continue reading

Posted in Labor, Macroeconomics, Markets, Poverty | Leave a comment

Let’s Stop Pretending

Let’s stop pretending that economists or politicians really care about the labor force. Okay, maybe not ALL of them, but certainly the “big dogs.” With the Federal Reserve indicating that it’s going to raise target interest rates, there’s a lot … Continue reading

Posted in Economics, Labor, Macroeconomics, Political Economy, Public Policy | Leave a comment