September 2012 Archives

i-Side Economics

Ike Brannon pointed me to a great op-ed piece by Andy Kessler in the Wall Street Journal last Tuesday describing comparing the New Keynesian spending policies of the Obama administration over the last three years to what he calls "i-side economics" ("i stands for "investment"), which is just a clever rebranding of the supply-side economics. The idea is that taking government funds (that have to come from somewhere) and giving them to someone does not create anything. It is investment that creates value and permanent new jobs. Very nice piece.
Here is a great little ESPN piece in which Hall of Fame quarterback, Steve Young, describes the NFL referees lockout persisting because of "inelastic demand" for the NFL product. The only explanation for this level of economic analysis is that Steve is a BYU alum (and has a law degree).


Forecasting the Presidency

From the Deseret News, September 4, 2012

You may have noticed there is a presidential election coming up.  The Republican Party met this past week in Tampa, Florida and officially nominated Mitt Romney as their candidate.  Democrats are meeting this week in Charlotte, North Carolina to renominate President Barack Obama.  Of course all that really matters is the counting of electoral college votes, and those will be decided on November 6th.

In the meantime, however, it is at least entertaining to try and predict which candidate will win.  There is no shortage of opinion, of course.  In the past week I have read that an Obama win is a sure thing, that Romney is sure to win, and that the election is too close to call.

Authors

  • Richard W. Evans is an Assistant Professor of Economics at Brigham Young University

  • Jason DeBacker is an Assistant Professor of Economics at Middle Tennessee State University

  • Kerk L. Phillips is an Associate Professor of Economics at Brigham Young University