msu.edu
Institutional Economics
https://msu.edu/user/schmid/instecon.htm
The purpose of this site is to facilitate exchange of ideas on institutional and behavioral economics (both old and new). Property, Power, and Public Choice (book). Institutional and Behavioral Economics Section of the AAEA, paper. Blog: The Troublesome Economist. Erasing the Invisable Hand: Essay on an Elusive and Misused Concept in Economics,. Warren Samules, Cambridge, 2011. Standards: Recipes for Reality. Lawrence Busch, Cambridge, 2011. Alternative Institutional Structures: Evolution and Impact.
proctereconomics.blogspot.com
Procter Economics: 2010-02-14
http://proctereconomics.blogspot.com/2010_02_14_archive.html
Better Choice Through Thought". Wednesday, February 17, 2010. De-Regulation and Economic Implosion. There's been some interesting news the last few days. 1 Evan Byah retiring. For some odd reason, he's being portrayed as a centrist democrat. I think Bill Mahar. Is right on labeling him a corporatist. 2 Frontline Program on Derivatives Regulation. 3 De-regulation under Clinton and U.S. Employment. That program lays out the domestic economic impacts of the Clinton's trade policy with China that opened the ...
proctereconomics.blogspot.com
Procter Economics: Gosh, what happened to my budget?
http://proctereconomics.blogspot.com/2010/03/gosh-what-happened-to-my-budget.html
Better Choice Through Thought". Thursday, March 11, 2010. Gosh, what happened to my budget? Ah yes, there's planning and then there's operations. Rarely do they coincide. What to do? This is one place where risk management comes in. How does a small business with little money for sophisticated resources and guidance navigate these waters? Here's the approach,. 1 Make a judgment call about what you think your most shaky variable is in your budget (there are likely more than one). This is a very simple app...
proctereconomics.blogspot.com
Procter Economics: 2010-01-24
http://proctereconomics.blogspot.com/2010_01_24_archive.html
Better Choice Through Thought". Thursday, January 28, 2010. Employment Much Worse in this Recession. Below are three charts comparing unemployment and labor force growth in this recession compared to other post WWII recessions. NOTE: Click on a chart to open it larger in a separate window. For work. Chart 3 shows that the civilian labor force kept growing, but at a slowing. Rate, up until about this past October. Then, the civilian labor force actually began to shrink. For a bit of good news, Chart 6 ill...
proctereconomics.blogspot.com
Procter Economics: 2009-12-20
http://proctereconomics.blogspot.com/2009_12_20_archive.html
Better Choice Through Thought". Monday, December 21, 2009. The Structure pertains to the rules, laws, prices, and so forth that are relevant to the policy you are examining. What gets included under Structure is quite flexible. Generally, think of it as whatever you understand as important to the evaluation you are conducting that is presently in existence and considered critical to describing the problem you're hoping to solve. I've seen decision-makers discuss and reach decisions, often in a convoluted...
proctereconomics.blogspot.com
Procter Economics: 2009-11-29
http://proctereconomics.blogspot.com/2009_11_29_archive.html
Better Choice Through Thought". Thursday, December 3, 2009. Mainstream" Economics, Heterodox Economics, and the Real World. This post picks up a thread begun in one of my first posts. How can economics be helpful to "real world" choices. G, and James Schaffer who at the time were among the main flag bearers of. One thing that strikes me about 'mainstream' economists and economics overall is its desire to offer policy prescriptions and guidance while at the same time wanting to be seen as being objective&...
proctereconomics.blogspot.com
Procter Economics: Starting a new Business - A Flight into the Unknown
http://proctereconomics.blogspot.com/2010/03/starting-new-business-flight-into.html
Better Choice Through Thought". Monday, March 8, 2010. Starting a new Business - A Flight into the Unknown. Are all these ideas worthy? Yet, that's not the question. One good question is what are the priorities? What do you really want to do? What do you really want to accomplish? What is your primary purpose? I'm not saying it's a wrong path to travel down. Rather, that you need to be cautious as you travel down that path. I've seen people who are really just grasping for confirmation grab onto ...P5:In...
proctereconomics.blogspot.com
Procter Economics: 2009-11-22
http://proctereconomics.blogspot.com/2009_11_22_archive.html
Better Choice Through Thought". Saturday, November 28, 2009. Should Tim Geithner be Replaced? More and more people are calling for Treasury Sec. Tim Geithner's resignation. Among them calling for his resignation include J im Rodgers. I particularly like this passage from The New Republic article. A sure sign of his impending departure is the political heat he's drawing to the Obama Administration. Dumping him might reduce that heat, but will it lead to a fundamental change in Administration policy? Out t...
proctereconomics.blogspot.com
Procter Economics: What About When Costs and Revenues Are Interdependent?
http://proctereconomics.blogspot.com/2010/03/what-about-when-costs-and-revenues-are.html
Better Choice Through Thought". Monday, March 8, 2010. What About When Costs and Revenues Are Interdependent? In the prior post, it was implicitly assumed that costs and revenues are independent. This is how you can develop costs and then determine needed revenues. What about when costs and revenues are interdependent? If your business has a fixed monthly payment for a space, such as a monthly lease, then this cost is clearly known. However, what if you rent space as the need arises? One other implicatio...
proctereconomics.blogspot.com
Procter Economics: Bankers, Economics, and when will Obama REALLY Work for Main Street?
http://proctereconomics.blogspot.com/2010/01/bankers-economics-and-when-will-obama.html
Better Choice Through Thought". Wednesday, January 27, 2010. Bankers, Economics, and when will Obama REALLY Work for Main Street? Joseph Stiglitz spoke today at the Davos World Economic Forum. In a wide-ranging talk. Bloomberg reports that he chastised bankers for creating 'negative value' for society. Reuters. Reports that banks are doubling-down on risk. I did nothing wrong. I was presented with such an opportunity that any hot blooded male would have done the same thing. Right. The Administration's re...
