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Journal Journal: How The Federal Reserve Bought The Economics Profession 1

Plenty of articles have already disproved the Bush administration story about this recession, that "nobody could have seen it coming". Now, Huffington Post explains why the "top" economists never told the public they could see it coming and how those who did tell the truth, such as Joseph Stiglitz, were systematically marginalized in the United States by the most corrupted "academic discipline" outside of global warming denial.

The Huffington Post reviewed the mastheads of the American Journal of Economics, the Journal of Economic Perspectives, Journal of Economic Literature, the American Economic Journal: Applied Economics, American Economic Journal: Economic Policy, the Journal of Political Economy and the Journal of Monetary Economics. HuffPost interns Googled around looking for resumes and otherwise searched for Fed connections for the 190 people on those mastheads. Of the 84 that were affiliated with the Federal Reserve at one point in their careers, 21 were on the Fed payroll even as they served as gatekeepers at prominent journals. At the Journal of Monetary Economics, every single member of the editorial board is or has been affiliated with the Fed and 14 of the 26 board members are presently on the Fed payroll.

User Journal

Journal Journal: Obama smear 1 4

Nutria, what exactly is your problem with children, singing?

What exactly is your problem with what those children are singing about?
User Journal

Journal Journal: Researcher Makes Solar Energy Breakthrough

Recent news of food shortages motivated me to start browsing the web for more efficient sources of ethanol than corn, and keeping my eyes open for any promise at all from other alternative energy sources in general. I'm excited by the best news I've ever heard about large-scale harnessing of energy for human use! I haven't found the technical details of the solar cell that can withstand such intensity, but I did learn that the cost of production is reduced dramatically compared to previous solar collectors by the use of a concave array of mirrors to focus light to an intensity up to 10,000 times the noonday sun onto a very small, very efficient solar panel. Despite the lack of technical specifics, I think this particular news item is interesting because of the claim that they can produce solar energy competitive with, or even less expensive than current power plants! In just a few minutes on Google after identifying David Faiman as the chief researcher, I found a wide variety of sources publishing this story. I'm including a local account and one dating back to 2003, which got me wondering why this isn't already in widespread use. I quickly remembered the influence of Archer Daniels Midland and its chairman Dwayne Andreas in the United States in maintaining the fiction that corn is a viable source of ethanol.

I think it's pretty obvious that all subsidies and other government favors for corn ethanol must be outlawed. What I did not realize is just how overblown the entire "petroleum shortage" is. There is absolutely no excuse to burn dinosaurs for more than a minuscule fraction of our energy, when it's this easy to convert sunlight to electricity.

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