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See, that idea there, "national interest," is 'xactly the nub 'round which I'm twisting the Treasury article I promised you ;) I'm collecting my thoughts and links, yo, in order to spare the casual reader my incoherence.

Aren't too many 'Mericans (and others) with practical business experience outside corporate training: The "is,is" of capital structure and strategy. Ha.

As for "business cycle": May I recommend James Hamilton, "What is real about the business cycle." (St Louie Fed, 2005) I lost the link, sorry, but it's brief and is nicely illustrated with polynomial functions, graphed. His conclusion cracks me up every time.

"If an accurate statistical description of the dynamic behavior of key economic magnitudes is a time-invariant linear model such as equation (4), the the correct answer is,there is no such thing as a business cycle."

That's not the funny part. The funny part, to me, is NBER assignments of "recession" to periods 1857-1912.

Diversity is the key to economic and political evolution.

by Cat on Thu Oct 16th, 2008 at 12:21:35 PM EST
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