A summary of a recent paper by Adair Turner on the impact of automation on unemployment and the economy in general, and the implications for social cohesion.
How do we distribute what we can produce? And does the distribution of wealth itself impact productivity?
A summary of Zoltan Pozsar’s work, showing how a tidal wave of wealth has gathered in institutional cash pools unnoticed by economists.
A brief look at the huge shift of wealth to the richest in society in the last 40 years, and what lies beneath this.
A forensic examination of a stylised company’s balance sheet, to show that business saving should, in fact, be the true source of investment.
How everything in the blog so far explains the fall in productivity in recent years.
An explanation of what the saving-investment identity actually tells us about how the economy functions (everything in the blog so far has been leading up to this point).
An explanation of why national income equals national expenditure, again as a stepping stone to the next post.
A brief explanation of how GDP is calculated, to lay a foundation for the next two posts.