In their book Secular Cycles, Peter Turchin and Surgey Nefedov point out the important role falling wages of the common workers played in early collapses. I got to thinking that this might be an issue with our current situation as well, including the low level of oil prices. 362 more words
Tags » Financial Implications
How does the economy really work? In my view, there are many erroneous theories in published literature. I have been investigating this topic and have come to the conclusion that both energy and debt play an extremely important role in an economic system. 5,224 more words
The price of oil is down. How should we expect the economy to perform in 2015 and 2016?
Newspapers in the United States seem to emphasize the positive aspects of the drop in prices. 3,165 more words