From article Biden's 'incredible transition' comment is part of the progressive dream. Larry Kudlow. May 24, 2022. Kudlow calls out Biden for his positive spin on rising gas prices So, there's JOE BIDEN TELLING US HOW WONDERFUL HIGH GAS PRICES ARE: “We're going through an incredible transition away from fossil fuels. God willing when it's over, we'll be stronger and the world will be stronger and less reliant on fossil fuels when this is over." … God willing, Mr. President, we'll still have an economy. Sky-high gasoline prices—including diesel prices and natural gas prices—are not the answer. We are never going to replace fossil fuels, whether you or John Kerry understand this. Electric cars are great, even though you won't invite Elon Musk to the White House, because he runs a non-union shop and now he's for free speech and even worse, he's going to vote Republican. But even ELON MUSK HAS CALLED FOR STEPPED UP PRODUCTION OF OIL AND GAS...
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From Can Democracy Survive Global Capitalism? Robert Kuttner. 2018. Kindle online sample. Section 1. From introduction: In the past few decades, the wages of most workers have stagnated, even as productivity increased. Social supports have been cut, while corporations have achieved record profits. What is going on? According to Robert Kuttner, global capitalism is to blame. By limiting workers’ rights, liberating bankers, and allowing corporations to evade taxation, raw capitalism strikes at the very foundation of a healthy democracy. CAPITALISM SHOULD SERVE DEMOCRACY AND NOT THE OTHER WAY AROUND. One result of this misunderstanding is the large number of disillusioned voters who supported the faux populism of Donald Trump. Charting a plan for bold action based on political precedent, Can Democracy Survive Global Capitalism? is essential reading for anyone eager to reverse the decline of democracy in the West. …. From book sample: A quarter century ago in the glow of postcommunis...
Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 6 The Economics of Labor Markets Chapter 18 of 36 – The Markets for the Factors of Production Section 16 of 22 … Table 1C here … A firm's factors of production are within three categories: labor, land, and capital. We have seen · how firms decide how much labor to hire · how these decisions determine workers' wages Firms also must decide about other inputs to production. Our apple producing firm must choose · the size of its apple orchard, its land · the number of ladders, its capital … The meaning of the terms labor and land is clear, but the meaning of capital is not. In economics the term capital to refers to the stock of equipment and structures used for production. For our apple firm, the capital stock includes · ladders used to climb trees · trucks used to transport apples · buildings used to store apples · apple trees themselves … … There are two prices for land and capital: purchase price and ...
From article Biden won't stop spending. Larry Kudlow. May 11, 2022. There was no letup in today's CPI inflation report. The overall CPI INFLATION CAME IN 8.3% YEAR OVER YEAR, THE FASTEST PACE IN NEARLY 40 YEARS. In the companion report, real worker wages continued to decline. Food prices are up 9% over the past year. Services prices are booming 8% over the past three months, including rents. Electricity prices are up 11% over the past year. Wall Street economist Conrad DeQuadros reports of 95 categories that cover nearly the entire CPI index, two-thirds of them are rising above 6%. … Blaming Vladimir Putin, or a pandemic that hasn't been an economic problem in just about a year, or successful businesses, rich people, poultry companies, "ultra-MAGA" or Senator Rick Scott just utterly fails the smell test and that's Joe Biden's big problem. Biden said yesterday federal spending is not the problem. The trouble is, almost no one in the country agrees with that...
Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 6 The Economics of Labor Markets Chapter 18 of 36 The Markets for the Factors of Production Section 15 of 22 … Figure B here … We have assumed the labor market is competitive. There are many buyers and sellers of labor. Each buyer or seller has negligible effect on the wage level. Imagine the labor market in a small town dominated by a single large employer. This employer could exert a strong influence on the going wage, using its market power to drive down the wage. A market like this where there is a single buyer is called a monopsony. A monopsony is in many ways similar to a monopoly, which is a market with one seller. … Previously we saw a monopoly firm produces less of the good than would a competitive firm. By reducing the quantity offered for sale the monopoly firm can raise its product price and the firm’s profits. Similarly, a monopsony firm in a labor market hires fewer workers than would a co...
