Tag Archives: Economic

Virtual economy, poetic thought by George B


Virtual economy, poetic thought by George B

The paint not dry yet
The painting’s hanging on the wall
Still swaying, slightly,
On the wall that isn’t dry yet,
Between tenancies,
In a building that’s still under construction
That still needs permits,
corridors to be painted,
last coat,
and a roof, and doors…
Economic recovery…
Economic discovery…
Virtual economy…
_+++++++++++++++_+

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The Federal Budget, Per Person – NYTimes.com


 

The Spider and the Giants

The Spider and the Giants (Photo credit: Thomas Hawk)

 

The Federal Budget, Per Person – NYTimes.com.

 

 

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Today’s Birthday:David Ricardo (1772)


David Ricardo (1772)

Ricardo was a British economist who made a fortune in the stock market before turning to the study of political economy, publishing his major work, The Principles of Political Economy and Taxation, in 1817. According to his labor theory of value, the value of almost any good is a function of the labor needed to produce it; thus, a $10 watch requires ten times more labor than a $1 pencil. According to his “iron law of wages,” what keeps wages stabilized around the subsistence level? More… Discuss