Tuesday, September 24, 2002
Midday Musings-I just got done with the first session of Keynesian economics in my Macro class and I'm having a hard time taking it seriously. I'll have a longer post later once I've clear my desk of papers to grade, but the assumptions that the model makes assumes away reality. The one that got me was to assume that savings equals investment and that investment is a constant. Once you make those assumptions, demand essentially creates its own supply and pumping up demand is the game. For my own sake and those of my students, I really need to see if there is something more there to Keynesian theory than I'm absorbing or whether it is truly suitable for use as fertilizer. We might have an actual hurricane on our hands in the US. Isidore looks like it's had enough time exploring the Yucatan and wants to see the bayou, heading up towards Louisiana. We're not getting anything in particular from Isidore here in central Florida, but it is a lot rainier and windier than I've been used to. We're getting a solid shower even as we speak, and that's not typical, for most of our showers are afternoon and evening events. "New Jersey Senate Candidates bring in big guns." Duyba was up stumping for Forester and Daschel was up stumping for the Torch. Guess who brought in three times as much (1.5M versus 500K)? With Democrats supporting gun control, they're not used to handling big weaponry. An NPR piece on the race had Torricelli trying to make it a Democrat-Republican race, as if control of the Senate is on the line. One of the listed downsides of a Republican Senate would be "handing Social Security over to Wall Street sharpies." That's not a bug, that's a feature. This WaTi piece is getting on Charlton Heston for praising Alabama's Democratic governor Don Siegelman for his solid pro-second amendment stance. Most "special interest groups" will back the incumbent if he is 100% with them on what has crossed his desk, even if the challenger would be even more helpful. I've seen Right to Life back a moderate conservative state rep who has voted the correct way over the theocon challenger that might be more to their liking.
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