Tag Archives: macroeconomics

"The Business of the Future": Banks, Latinos, and the Changing Financial Borders

A major change is underway in the relationship between mainstream financial institutions and the U.S. Latino population. From small independents like Second Federal Savings in Chicago to the nation's largest retail bank, Bank of America, these institutions display an intense …  More

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The Fallacy of Micro Foundation and Micro Fluctuations

Argues that there is no micro foundation for microeconomic fluctuations, or business cycles, based on the law of large numbers in probability theory and statistical mechanics. Discusses the Lucas model of rational expectations as inconsistent with the efficient market hypotheses …  More

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