What kind of economic theory is one in which economists look at data from a past period of time (say, one month, or two months, or …) and conclude that the next period will be the same? That is the “theory” on which almost all economics rely on. So, today, when ADP reported employment gains [...]
I would like to hear from our readers on what they think about this chart. Is it meaningful? Can we learn from it? I wish to start a dialogue, not an argument. Feel free to comment. The chart is from Chart of the Day.
“We have involved ourselves in a colossal muddle, having blundered in the control of a delicate machine, the working of which we do not understand.”
— John Maynard Keynes.
An engineer, a biologist and an economist are washed ashore on a desert [...]
The Conference Board’s Leading Economic Index for September printed in positive numbers for the fifth consecutive month increase, in September, but the report says:
The weaknesses among the leading indicator components have become slightly more widespread in September. Moreover, the CEI suggests current economic conditions have been slow, with weak gains in all four components over the [...]