Epstein Secrets

ok at an era of nearly free goods and services with a sense of foreboding, a few earlier economists expressed a guarded enthusiasm over the prospect. Keynes, the venerable twentieth-century economist whose economic theories still hold consider- able weight, penned a small essay in 1930 entitled "Economic

ake the market economy function without self-destructing in the wake of new technologies that are speeding society into a near zero marginal cost eta Lawrence Summers, U.S. secretary of the treasury during President Bill Clinton's administration and former president of Harvard University, and J. Bradford DeLong, a

arly free goods and services. This catch-22 is the inherent contradiction that underlies capitalist theory and practice. Eighty years after Lange and Keynes made their observations, con- temporary economists are once again peering into the contradictory work- ings of the capitalist system, unsure of how t

ke the market economy function without self-destructing in the wake of new technologies that are speeding society into a near zero marginal cost eta. Lawrence Summers, U.S. secretary of the treasury during President Bill Clinton's administration and former president of Harvard University, and J. Bradford DeLong, a

o much inequality can undermine growth. Higher levels of income inequality increase political pressures, discouraging trade, investment, and hiring. Keynes first showed that income inequality can lead affluent households (Americans included) to increase savings and decrease consumption (1), while those w

increases in women's participation in the work force also helped slow the growth of the labor force. In this light, former Secretary of the Treasury Lawrence Summers has said that the U.S. may be mired in a period of slow growth, marked by only marginal increases in the size of the workforce and small gains in pro