A Correction Podcast

In this episode, Lev and Natalie discuss Adam Smith and Karl Marx. Does the U.S. really have a free market economy?

Inflation should be avoided at all costs is one belief held by the hawks. What is inflation and what do birds have to do with it? Well, nothing. In this episode, Lev and Natalie wrap up the Big Three - the three ways the economy is measured - by ending with inflation. How do we influence inflation by what we think prices are going to do? How does money gets into the economy? In A Dollar and a Penny we answer those questions and discuss the role of The Fed and why a little inflation may be a good thing.

As of June 2016, the reported (U3) national unemployment number remains at 4.9%, a number that Obama praised back in April 2016. What is the story behind that 4.9% and how much does Obama’s economic legacy have to do with it? Lev and Natalie discuss our POTUS, how we measure unemployment, and the theory around war and the military as means for economic stimulus (Yikes!).

GDP is made up of the goods and services that a country produces. When economists and politicians talk about growth, this is what they are referring to. But what makes up those goods and services? Rather, what is the “what” of GDP as Jonathan Rowe asks in his 2008 Harper’s Magazine article titled, “Our Phony Economy” months before the economic crash of 2008? In this episode of A Correction, Lev and Natalie discuss Rowe’s article, how GDP is measured, and ask: is growth always good?

In this short hello, Lev and Natalie discuss their hopes for the show and summer plans.