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 […]
If Smith and Ricardo were right, what patterns of economic specialization should we observe under free trade?
Many orthodox economists claim that the works of Adam Smiths and David Ricardo -the Wealth of Nations and On the Principles of the Political Economy- form a set of ideas that can […]
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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. […]
Performance of federal public agency for economic development: the Economic Development Administration (EDA) 1965-2010.
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 […]