Archive for 2009 年 03 月

Throughout the post second world war period, America’s economy played the role of a shock absorber to the global economy by being the spender of the last resort. Now, with the government and private American in debt, it is up to the savers of foreign currency reserve to spend. (i put China in the title because they are the largest holder of foreign reserves.) These savers has been buying huge stockpiles of American debt partly for the purpose of keeping their currency cheap to encourage Americans to buy their export. Its time to spend what they have saved by cashing in their American debt to buy American export. (繼續閱讀…)


Read Full Post »

Over at Economist.com, they got Brad DeLong and Luigi Zingales representing Keynesianism and Neoclassical respectively over an online debate on the proposition “We are all Keynesians now."

The proposition is awkwardly framed, i mean come’on, arguing for the proposition is like arguing that entire political and economic elites agrees over the remedy needed to recover from the current financial crisis, which is an impossible position to defend. This forced DeLong to declare defeat in the opening sentence of his opening remarks. And belatedly, moderator re-frame the debate to be “whether we—or rather, economists and policymakers—should be [Keynesian]." on the third day.

anyway, here is the problem (繼續閱讀…)

Read Full Post »

英九先生前天正式將要跟中國簽的協議定調為「兩岸經濟合作架構協議」(Economic Cooperation Framework Agreement,ECFA),並引述中經院的報告說:如果不簽ECFA台灣會有11萬人失業。言下之意似乎是台灣與中國經濟開放,可以拯救台灣的經濟。啟銘也說「ECFA會擱發」。從總統大選時,英九便不斷宣稱與中國開放可以拯救台灣經濟,可是從520至今,一連串的開放政策似乎並未未達到英九和兆玄宣稱的效果,從經濟學人CNN紐約時報都爭相報導台灣經濟遭受這波金融海嘯衝擊為世界第一,便可知。問題究竟出在哪裡呢? (繼續閱讀…)

Read Full Post »