domingo, 25 de agosto de 2013

Iniciativa privada na Inglaterra da Revolução Industrial





Friedrich Engels explica:
“The whole British Empire, and especially England, which sixty years ago, had as bad roads as Germany or France then had, is now covered by a network of the finest roadways; and these, too, like almost everything else in England, are the work of private enterprise, the State having done very little in this direction… In England alone, there are 2,200 miles of canals and 1,800 miles of navigable river… These improvements, too, like the railroads and roadways, are nearly all the work of private individuals and companies….” Friedrich Engels, The Condition of the Working-Class in England in 1844 (Project Gutenberg e-book) p. 23-24 – first edition in German 1845

sábado, 24 de agosto de 2013

Keynes fala sobre o padrão de ouro

http://www.youtube.com/watch?v=U1S9F3agsUA

Quem foi Mises?


GET UPDATES FROM STEVE MARIOTTI

The Economic Philosopher's Outcast: Mises

Mises' most remarkable argument for the free market came in his 1922 piece, "Socialism: an Economic and Sociological Analysis." In a Socialist state, there were no prices, essential to allocating resources. Prices signaled information simultaneously to both entrepreneurs and consumers. The centralized decision making over both production and consumption is impossible because of the complexity of an economy composed of hundreds millions of people and trillions of decisions every second. This insight gave Mises a greater appreciation of the value of a market economy, one that allows for the change of prices based on changes in supply and demand. The anticipation of future consumer demand impacts the output of entrepreneurs intent on meeting that demand in the future and thereby make a profit. This defense of limited government and the rights of all citizens made Professor Mises a threat to the ultimate central planners and explains why the Gestapo had sped to his home to arrest him.

Keynes para crianças

http://keynesforkids.com/

Por que nações fracassam

Entrevista a James Robinson

by Eduardo Engel on 14 agosto, 2013 · 0 comments
La edición del 2 de agosto de Qué Pasa incluye una entrevista de Eduardo Engel a James Robinson, co-autor del libro “¿Por qué fracasan los países?”. Publicamos a continuación  una versión extendida de dicha entrevista.
Eduardo Engel: El libro que escribió junto a Daron Acemoglu, Why Nations Fail, sostiene que, en esencia, existen dos tipos de países. El primer tipo de países tiene instituciones que suelen beneficiar al status quo, por lo que son sociedades que inhiben la innovación y la destrucción creativa. Tienen instituciones que ustedes llaman “extractivas”. El segundo tipo de países cuenta con instituciones que fomentan el surgimiento de nuevas empresas y de nuevos procesos productivos. Estos países tienen instituciones “inclusivas”. Las coyunturas críticas determinan la transición de un tipo de institución al otro. En el libro revisitan varios períodos históricos para interpretarlos bajo el prisma de esta teoría, desde la revolución neolítica al Apartheid, incluyendo pasajes de la historia de América Latina. Entre los muchos episodios históricos que utiliza para ilustrar el éxito o fracaso de las naciones, ¿cuál es el que mejor ilustraría su teoría a los lectores chilenos?
James Robinson: En el primer capítulo se encuentran ya los fundamentos de las principales ideas del libro y a los lectores chilenos les puede resultar interesante porque usamos la historia económica y política comparativa de las Américas. Ahí mostramos que los colonos españoles y británicos vinieron al nuevo continente con ideas muy similares sobre qué tipo de sociedad construir, pero la realidad resultó muy distinta debido a las diferencias en las condiciones iniciales, en especial factores como la densidad de la población indígena y la presencia de grandes depósitos de oro y plata.
Engel: ¿Mucho oro en lo que sería la América española y casi nada en la América inglesa?

US - grande revisão do PIB


  • Dating back to 1929, the U.S. economy grew at a 3.3% annual pace, which is one-tenth of a percentage point higher than previously published estimates. From 2002 to 2012, the growth rate was 1.8%, up from a previously reported 1.6% pace.
  • Intellectual property, which includes research and development, entertainment and the arts, and software, grew by 13% in 1997 from the prior year, as the Internet bubble began. But by 2001 growth had slowed and only rose 0.5% from a year earlier. By 2012, the categories’ contributions to overall growth were negligible.
  • The BEA also tweaked how it calculates pension contributions. The agency will now consider compensation to reflect the value of the pension promises made by the employer, rather than the employer’s cash contributions to the pension fund. The new method better reflects the retirement benefits a worker earns while working and is consistent with business accounting standards, BEA said. As a result, the personal savings rate averaged 4.7%, an upward revision of one percentage point, for the period between 2002 and 2012.
  • In 2012, the economy expanded at a 2.8% pace versus a previous estimate of 2.2%. But that performance was wildly uneven over the course of the year, with a strong 3.7% annualized pace in the first quarter after a big upward revision, followed by two middling quarters and finally an abysmal 0.1% growth rate in the final quarter of the year. In current dollar figures the revisions added nearly $560 billion to the overall figure 2012 GDP figure of $16.2 trillion.
  • The great recession was less severe than previously thought, with the economy shrinking at an average annual pace of 2.9%, revised from a 3.2% contraction. The recession stretched, officially, from December 2007 through June 2009, according to the National Bureau of Economic Research, which determines the widely accepted benchmarks for U.S. business cycles.
  • The current recovery, while revised to show stronger growth, is still the weakest since World War II. The economy expanded at an average 2.3% annual pace between the second quarter of 2009 and the fourth quarter of 2012, compared with a previously published 2.1% pace
  • MAIS

US PER (quociente do preço por rendimento) da bolsa de valores e a taxa de juros1860-2013


sexta-feira, 23 de agosto de 2013

10 Liçoes da economia que o governo que ocultar

"... no todos los días tenemos la oportunidad de encontrarnos con un libro tan poderoso como estas “10 Lecciones” de Juan Fernando Carpio. 
Originalmente publicadas a manera de artículos y ensayos en prestigiosos medios, son Lecciones que representan una especie de curso intensivo de economía austriaca aplicada a la realidad. Se abordan temas complejos con gran claridad, amplitud y profundidad. Con un mérito especial por la capacidad de síntesis, la pedagogía y lo que más agradecerán los lectores modernos: la provocación. 
Porque con estas Lecciones el lector entrará en un viaje intelectual que por momentos lo sacará de su zona de confort, de sus presupuestos ideológicos. No lo resienta. Asúmalo como un reto. Recuerde que el verdadero aprendizaje está siempre por fuera de la frontera de lo que nos resulta cómodo o conveniente. (...)"
Mais

Boas intenções - maus resultados

O documentário da PBS "Boas Intenções" realizado pelo professor Walter Williams, baseado em seu livro "O estado contra os negros", gerou muita controvérsia quando foi lançado, chegando até mesmo o professor Williams receber ameaças de morte por causa dele. 

Em "Boas Intenções", Walter Williams explica porque a guerra contra à pobreza vem falhando e por que essas políticas tem sido tão danosas contra os negros americanos.

O documentário foi lançado em 1982, mas continua extremamente atual.
Veja

Artigos sobre política monetária

Sources
“Rules rather than discretion: The inconsistency of optimal plans”, by F. Kydland and E. Prescott, Journal of Political Economy, 1977

“Methods of Policy Accommodation at the Interest-Rate Lower Bound”, by Michael Woodford, Columbia University, 2012

“The Macroeconomic Effects of Large-Scale Asset Purchase Programs”, by Han Chen, Vasco Cúrdia and Andrea Ferrero, The Economic Journal, 2012

“How Stimulatory Are Large-Scale Asset Purchases?“, by Vasco Cúrdia and Andrea Ferrero, Federal Reserve Bank of San Francisco, Economic Letter, 2013

“Foreign Holdings of U.S. Treasuries and U.S. Treasury Yields”, by Daniel Beltran, Maxwell Kretchmer, Jaime Marquez, Charles Thomas, 2012

“International Capital Flows and U.S. Interest Rates", by Francis Warnock and Veronica Warnock, Journal of International Money and Finance, 2009

“Preferred-habitat investors and the US term structure of real rates”, by Iryna Kaminska, Dimitri Vayanos and Gabriele Zinna, Bank of England Working Papers, 2011
Mais