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Do Generous Welfare Benefits Lead To High Unemployment? (Long Version)
(This was originally written as a college essay. For this reason it is 3,000 words long and contains a lot of economics terms references. It is meant as a help for anyone who wants an in-depth study of...
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Do Generous Welfare Benefits Lead To High Unemployment? (Short Version)
(This is a shortened version of my last post. Essentially I shortened it, removed all the technical economic terms and put into plain English. If you want to see my sources and the evidence I base this...
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The Truth About Spending And The Stimulus
Republicans regularly criticise Obama’s stimulus plan, claiming it was an ineffectual waste of money. The internet is full of people arguing it failed to work, that unemployment is still high and...
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The Irish Housing Bubble And Bust
The recent housing bubble in Ireland defied the laws of economics. Supply and demand rose simultaneously, the market rose to absurd heights before crashing to unheard of lows. It went from an extreme...
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My Problem With Obama
Don’t get me wrong, I’m a liberal, a Democrat and I’ve voted for Obama for this election. My problem is that my main reason for voting for Obama is that I want Romney to lose. Obama’s campaign has...
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Balance Sheet Recession
There are many questions about this current recession. Why did the economy decline so much? Why are most economies stagnating? Why has low interest rates and quantitative easing not lead to recovery?...
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Three Day Working Week
Back in 1930 Keynes predicted that in the future people would only work 15 hours a week. We would become so productive that we could produce everything we needed while only working a short amount of...
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What Economics Doesn’t Talk About
Whenever I tell people that I’m studying economics they usually ask me how to solve the recession or what to do about the banks. Each time I’m embarrassed over the fact that we have never even...
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Why Cutting Public Sector Pay Is Always a Bad Idea
Reblogged from Irish Student Left Online: - Robert Nielsen discusses the ongoing dispute over the Croke Park II proposals, and why cutting wages is always a bad idea. At the moment there is a great...
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The Shame Of Unemployment
There are few things in life as soul-crushing and depressing as being unemployed. In our modern society, people are defined by their work; your job is who you are. Those without a job are therefore...
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The Most Important Lesson Of Economics
Economics is a broad and vast field comprising intricate areas that would take years to master. This makes it very hard to summarise or reduce it to a simple point. However, if there was one simple...
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What Is Modern Monetary Theory?
The crisis has given rise to a range of new ideas and theories to replace the discredited view of the economy. The newest and most imaginative of these is known as Modern Monetary Theory (MMT) and is...
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Debunking The Broken Window Fallacy
One day a boy was playing football when he accidently broke a window. Rather than get mad, the people shrugged their shoulders and said breaking windows is good for the economy. After all, if no...
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