This is a bit long and drawn out, but it’s got ooh! shiny! clarity! if you’re still trying to wrap your head around all this economy mess. Berkeley economist Brad deLong is having a debate with a person named Luigi Zingales about Keynesianism, a type of fiscal policy (I’ve heard th...

During the Great Depression, there were Hoovervilles. Shantytowns and tent villages of the homeless. Now, in 2009, there are Bushvilles. Direct YouTube link More, from @anamariecox: RT @Paulinehess “Sad thing is that the only reason Sac tent city is getting attention is because it now has midd...

Agence France-Presse: UN Secretary General Ban Ki-moon warned Thursday that failure to tackle climate change would lead to global economic upheaval, as he appealed to nations to reach agreement on carbon emission cuts. "Deserts are spreading. Water scarcity is increasing. Tropical forests are s...

As I said here, natural disasters destroy wealth (i.e. assets), and resources are used to build the assets up again.  If this reconstruction were optimal in the absence of the disaster, the asset owners would have destroyed their assets long ago.  Stephen Karlson has another example from t...

Despite what some might assert, disasters are not good for an economy.  The problem, as any economist worth his salt will tell you, is that disasters divert resources that would have been used more productively elsewhere.  Instead of creating economic activity, disasters destroy wealth, an...