Posted by Warm Southern Breeze on Friday, September 14, 2012
Gonna’ get yours?
The iPhone Stimulus
By PAUL KRUGMAN, September 13, 2012
Are you, or is someone you know, a gadget freak? If so, you doubtless know that Wednesday was iPhone 5 day, the day Apple unveiled its latest way for people to avoid actually speaking to or even looking at whoever they’re with.
So is the new phone as insanely great as Apple says? Hey, I’ll leave stuff like that to David Pogue. What I’m interested in, instead, are suggestions that the unveiling of the iPhone 5 might provide a significant boost to the U.S. economy, adding measurably to economic growth over the next quarter or two.
Do you find this plausible? If so, I have news for you: you are, whether you know it or not, a Keynesian — and you have implicitly accepted the case that the government should spend more, not less, in a depressed economy.
Before I get there, let’s talk about where the buzz is coming from.
A recent research note from JPMorgan argued that the new iPhone Read the rest of this entry »
Posted in - Uncategorized | Tagged: Apple, business, David Pogue, depression, Economic growth, economics, economy, Economy of the United States, enterprise, Great Depression, Great Recession, iphone, iPhone 5, John Maynard Keynes, JPMorgan Chase, Keynesian economics, Paul Krugman | 2 Comments »
Posted by Warm Southern Breeze on Tuesday, April 26, 2011
This is the second in a multi-part series about our national economy.
How we are affected by downturns, spikes and elevations in the economy individually/personally and as families/communities has great similarity across a wide spectrum. But perhaps most importantly, in this instance, once we know the problem, or the causes of the problems, we also know the solutions. That is the natural corollary to identifying those problems.
The CIA World Factbook – which is available online at https://www.cia.gov/library/publications/the-world-factbook/geos/us.html – indicates that “Since 1975, practically all the gains in household income have gone to the top 20% of households.”
The next question that arises from that fact is this: Why?
The Central Intelligence Agency offers this explanation: Read the rest of this entry »
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