Macro and Micro

Moral: Where we look, as said in the beginning, at both sides.

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Macro deals with issues in the large. Micro deals with the small stuff; but, guess what, in the details is where truth lies.

Economics covers a whole lot of ground. The IMF gets to play on the Macro side a whole lot as it deals with developing economies. Hence, getting a viewpoint from experiences there, as we do from Delano S. Villanueva, can make for interesting reading (see TOC). Chapter 1 is available online and is apropos to the current mess.

Please note that he goes into the influence of moral hazards which we haven't heard about of late, whereas last fall it was being dropped all over. What? Once the government opens the tide of monies, no one cares?

Well, as said before, we can run finance using non-profit techniques with people who don't salivate when a buck is passed beneath their nose.

On the Micro side, it comes back to labor/consumers and corporate decisions, assuming that Macro does not interfere with too much exogenous influence.

Both of these will figure in the discussions.

Remarks:

01/06/2010 -- Poor Ben, getting grief and criticism.

12/29/2009 -- Time calls Ben an uber-Nerd.

12/28/2009 -- Ben was named the Time Person of the Year. Nice. We can't call him 'King' as we saw with Alan's 'cult of personality' reign.

12/15/2009 -- Requiem for the dollar (WSJ) and responses.

09/04/2009 -- We still need to discuss the overarching metaphor for the economy. Quants are it!!

Modified: 01/06/2010