what the hell is total factor productivity?

the police is using water cannons and Georgians are answering it with firework machine guns

christmas came early this year 🎆

Georgia is in the middle of one of its largest protests ever since the Gov decided to put EU accession on hold.

Somewhat ashamed that I'm not there with my friends right now.

Adam Smith created economics.

Marshall gave us mathematical economics.

Keynes gave us macroeconomics.

Friedman gave us a version of macroeconomics that didn't suck.

But they are all eclipsed by GW Smith, who showed that Japan's Phillips Curve looks like Japan.

There are two people in this picture. One of them understands economics, the other is Paul Krugman.