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Archive for September, 2012

What happens when 80% of the work is done by 20%?

What happens when there’s not enough work? Unemployment and societal problems related to unemployment. But let’s be honest, the goal of civilization should be a 100% unemployment rate and we’re still quite a way off from that. So the present unemployment rate is far too low! Why is this even a problem? Initially, I thought […]

Economies of real things and monetary policy

Does monetary policy actually create jobs? As usual, the answer is both yes and no. For instance, does printing money fix the economy? If there an extra trillion dollars in circulation and not just hidden in bank vaults, what would happen? I always like asking myself, “Why would this work?” Classically, if the number of […]