The saving rate in the neoclassical growth model forces a Trend Stationary Process (TSP) which determines the path of economic growth. By looking at the behavior of the Saving Rate in Consumer […]
Economists have pointed out three contributing factors for the Great Recession. All of them closely related to the financial and banking system: Leverage, complexity, and liquidity (Blanchard, 2013). In this article, we […]
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The origins: The origins of mathematization of economics apparently is a contested issue even for economists. The genesis of this phenomenon may change depending on the measure used for establishing when historically […]
Sometimes Innovation does not let people think historically. By historically, we mean considering past, present and future at the same time. Most of the times innovation leads us to think that […]
Western world governments take advantage of tech revolution. However, Non-democratic regimes may benefit from technology revolution as well. Liberal political institutions in the western world have been developed long side capitalism and information. […]
The eternal and controversial role of the state in fostering and bolstering economic development has been advanced -substantially and theoretically- since the second half of the twenty century. The administration of JFK […]
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