Economics News with a Historical Perspective
July 30, 2014
The Econ Review features a historical perspective on economics news and opinions with daily updates. All original material is copyrighted. Off-site references open in new windows.
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U.S. Budget Deficit
In the News
The Phillips Curve
John Cochrane uses very similar Phillips Curve charts to review recent history and current issues.
Euro Roller Coaster
The wild ride continues.
The latest news and views.
U.S. Unemployment Rate Hits 25%
August 1932. The U.S. unemployment rate hit 25% in August of 1932. This startling increase came less than three years after the rate reached 0.04% in August 1929.
Bank Failures Cause the Great Depression
The monetarists' explanation for the Great Depression focuses on changes in the money supply. In this case, the changes were not the result of a deliberate policy experiment, but were instead the outcome of a lack of Federal intervention in the banking sector at a time when conditions for banks were quite perilous.
Stock Market Crash Causes Depression
October 29, 1929. Panic in the stock market by itself has little effect on the overall economy. The potential effect on physical investment in plant and equipment is, however, enormous.
The Theory of the Firm and the Theory of the Consumer form the foundation for microeconomics. The Classic Economic Models collection includes the most important models from each, covering both the supply and demand for goods and the supply and demand for labor.
Additional models of interest are available at Classic Economic Models.
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