He believes that they are not: Why do I think this is unnecessary? The entry and exit of firms driven by innovation and the development of new products can be part of a full employment equilibrium, that is, cycles are not needed to clear out old firms and spur innovation. I think...

Great paragraph from Winterspeak: I think they oppose the stimulus because it does not "stimulate". When the "stimulus" was first touted, it was rejected because it was too slow, and the money was targeted towards political interests, not households, and therefore would not help the economy. Here we are months later,...

A British professor was so concerned by his student’s apparent lack of historical knowledge that he made them take a test to see what theyknew. For three years Derek Matthews’ first year economics students had to answer five simple questions, the answers to which he believed every eighteen year old...