Archive

Archive for May, 2010

Seminar 3: Say’s Law

When: Thursday 3 June, 7pm
Where: University of Auckland Business School,
Room: TBC

In this month’s class, we continue our look at some of the important economic ideas which are rarely discussed these days but, can provide us great insight especially at times like this when the economies of many countries are plunged into recession.

Say’s Law, or the Law of Markets, is an economic proposition attributed to French businessman and economist Jean-Baptiste Say (1767–1832). “Say’s Law is obviously true….it is neither trivial nor unimportant” wrote Joseph Schumpeter in History of Economic Analysis (1954). John Maynard Keynes claimed that he refuted Say’s law. But did he? Or did he just ignore it?

We are thrilled to have Sean Kimpton lead the discussion this coming Thursday on why an understanding of Say’s law is critical for any student of economics, or for any person interested in how market’s function. Sean is a lecturer in economics at AUT and has studied Say’s law for a number of years.

Feel free to pass this message on to any others who might be interested. Note, we are starting this week’s seminar at 7pm.

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In markets tug-of-war, gold holds the key

Gold is reaching new all time high’s but is this it or will it keep on climbing?  David Callaway from Marketwatch has a few thoughts on the matter.

http://www.marketwatch.com/story/in-markets-tug-of-war-gold-holds-the-key-2010-05-13?siteid=moren

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Romanian Pensioners protest cuts

Romanian Pensions tried to take over the presidential palace in a protest against pension cuts of 15%.  With continuing global economic issues forcing governments to cut spending is this a sign of things to come?

http://www.3news.co.nz/Pensioners-protesting-cuts-scuffle-with-police/tabid/313/articleID/155588/Default.aspx

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Greece needed bailing out. Who’s next?

While the US might not be next in line to default on their debt, Jeffrey Hummel seems to think that there is a good chance that they will. This is a little old coming out in Aug last year but can’t really say that things have improved. Check it out here… http://www.econlib.org/library/Columns/y2009/Hummeltbills.html

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Capital Theory

If anyone is interested in Capital Theory, this is something to check out. http://fee.org/media/peter-lewin-on-austrian-capital-theory/

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