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http://www.theage.com.au/business/economic-models-can-be-too-neat-for-reality-20120708-21pep.html MANY people don’t realise the economics we hear from politicians, business people, economists and the media morning, noon and night is just one way of analysing how the economy works. Almost everything we’re told about what causes what is inspired by the ”neoclassical” model. It’s long been the dominant way of explaining why things happen and predicting what will happen, but it’s not the only way. And it’s far from infallible. [...] MONTGOMERY, Ala. (AP) — Alabama’s strict new immigration law may be backfiring. Intended to force illegal workers out of jobs, it is also driving away many construction workers, roofers and field hands in the country legally who do backbreaking jobs that Americans generally won’t. The vacancies have created a void that will surely deal a blow to the state’s economy and could slow the rebuilding of [...] |
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