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Austrian Business Cycle Analysis Explains the Misery of the World

from The Daily Bell

Long-term unemployment: the next threat to the world economy … As during the Great Depression, long-term unemployment will be an impediment to global economic recovery … However bad you think the global economy is today in terms of the business cycle, that is only one lens through which to view the world. In terms of global life expectancy, total world wealth, the overall level of technology, growth prospects in emerging economies, and global income distribution, things look rather good, while on still other dimensions – say, global warming or domestic income inequality and its effects on countries’ social solidarity – they look bad. – UK Guardian

Dominant Social Theme: Print money as fast as you can … before it is too late!

Free-Market Analysis: Another weary article on the need for central bank money printing. This one is served up in the Guardian from J. Bradford DeLong, a former deputy assistant secretary of the US Treasury. He is also apparently a professor of Economics at the University of California at Berkeley and a research associate at the National Bureau for Economic Research.

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