Aum Gung Ganapathaye Namah
Namo tassa bhagavato arahato samma-sambuddhassa
Homage to The Blessed One, Accomplished and Fully Enlightened
In the name of Allah, Most Gracious,
Most Merciful
Economics
A Collection of Articles, Notes and References
References
(Revised:
References Edited by
An Indian Yogi
What’s in a name? That which we call a rose
By any other name would smell as sweet.
- William Shakespeare
Copyright © 2002-2010 An Indian Yogi
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Should NOT be used for commercial, political or any other
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8 "... Freely you
received, freely give”.
- Matthew 10:8 ::
New American Standard Bible (NASB)
1
“But mark this: There will be terrible times in the last days.
2
People will be lovers
of themselves, lovers of money, boastful, proud, abusive,
disobedient to their parents, ungrateful, unholy,
3
without love, unforgiving, slanderous, without self-control,
brutal, not lovers of the good,
4
treacherous, rash, conceited, lovers of pleasure
rather than lovers
of God—
5 having a form of godliness
but denying
its power. Have nothing to do with them.
6
They are the
kind who worm their way into homes and gain control over weak-willed women, who are loaded down with sins and are swayed by all kinds of evil desires,
7 always learning but never able to acknowledge the truth.
8
Just as Jannes and Jambres
opposed Moses, so also these men oppose the truth--men of depraved minds, who, as far as the faith is concerned, are rejected.
9
But they will not get very far because, as in the case of those men, their folly will be clear to everyone.”
- 2 Timothy 3:1-9 ::
New International Version (NIV)
6
As he saith also in another
place, Thou
art a priest for ever after
the order of Melchisedec.
- Hebrews 5:6 ::
King James Version (KJV)
Therefore,
I say:
Know your enemy and know yourself;
in a hundred battles, you
will never be defeated.
When you are ignorant of the enemy but know yourself,
your chances of winning or
losing are equal.
If
ignorant both of your enemy and of yourself,
you are sure to be defeated in every battle.
-- Sun Tzu, The Art of War, c. 500bc
There
are two ends not to be served by a wanderer. What are these two? The pursuit of desires and
of the pleasure which springs from desire, which is base, common, leading to
rebirth, ignoble, and unprofitable;
and the
pursuit of pain and hardship, which is grievous, ignoble, and unprofitable.
- The Blessed One, Lord Buddha
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A Brief Word on Copyright
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A
Brief Word on Copyright
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References
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References
Milbank,
Dana. (
http://www.washingtonpost.com/wp-dyn/articles/A51195-2002Nov13.html
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Educational
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Reference
Milbank,
Dana. (
http://www.washingtonpost.com/wp-dyn/articles/A51195-2002Nov13.html
This Time a Bush Embraces 'Voodoo Economics' Theory
By Dana Milbank
Washington Post Staff Writer
Thursday, November 14, 2002; Page A07
President Bush took a ride on the Laffer Curve yesterday and espoused a tax-cut theory his father once derided as "Voodoo Economics."
After a meeting with his Cabinet, the president was asked about the federal budget deficit. "Well, we have a deficit because tax revenues are down," he said. "Make no mistake about it, the tax relief package that we passed -- that should be permanent, by the way -- has helped the economy, and that the deficit would have been bigger without the tax-relief package."
That
is orthodox supply-side theory: the notion that tax cuts, by stimulating the
economy, actually increase the government's tax revenue. Such thinking,
popularized by Arthur Laffer and his Laffer Curve, was the ideological fuel for Ronald Reagan's tax cuts.
Most economists since then have reached a consensus that while tax cuts have an "economic effect" that partially offsets the lost revenue from tax cuts, the overall result is still lost revenue. That's the case for Bush's $1.35 trillion tax cut from last year. "I don't know anyone who has said that the makeup in revenue because of the economic effect is greater than the reduction, and I would concur with that," said Eric M. Engen, a former Federal Reserve economist with the American Enterprise Institute.
Sen. Kent Conrad (D-N.D.), in his
last days as Senate Budget Committee chairman, labeled Bush's statement as "dream-world economics." Said Conrad: "I don't know where
he learned his math, but he didn't learn them in
The White House's Office of Management and Budget, in a budget report issued last summer, determined that the tax-relief package reduced revenue by $41 billion in the last fiscal year and would reduce revenue by $94 billion this year and $1.49 trillion over 10 years. Such "static" scoring does not consider the economic effect of tax cuts.
Asked about Bush's statement, OMB
spokesman Trent Duffy said that the tax cut
produced growth that "certainly softened the recession's impact on
revenues." But, he added, "by how much and to what degree, it's impossible to
know."
Urban Institute President Robert
Reischauer said Bush is "not way off
base" to say the tax cuts mitigated the economic downturn, but "the magnitude of these effects is not as great as
he believes."
Even some supply-side theorists
were unsure about Bush's argument that his tax cut reduced the deficit. "It's decreasing revenues," said Jude Wanniski, a former Wall Street Journal editorialist who
popularized supply-side views.
But Bush got hearty support from
one famous economist. Told of Bush's statement, a
pleased Arthur Laffer replied: "This is the correct way of putting it."
Staff writer Jonathan Weisman contributed to this report.
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“Thou
belongest to That Which Is Undying, and not merely to time alone,” murmured the Sphinx, breaking its
muteness at last. “Thou art eternal,
and not merely
of the vanishing flesh. The
soul in man cannot be killed, cannot
die. It waits, shroud-wrapped,
in thy heart, as I waited, sand-wrapped, in
thy world. Know thyself, O mortal! For there is One within thee,
as in all men, that comes and stands at the bar and bears witness that there IS a God!”
(Reference: Brunton, Paul. (1962) A Search in Secret
Amen