Falcon's Invoice Discounting: Your Path to Prosperity
Louis johnston mna 01 28-2011
1. Covering the Economy: How did we get here? Louis D. Johnston Presentation at the Minnesota Newspaper Association & Minnesota Free Paper Association Convention January 28, 2011
2. What is economics? Frank and Bernanke: “Economics is the study of how people make choices under conditions of scarcity and of the results of those choices for society (p. 4).”
3. What is economics? John Taylor: "Economics is a way of thinking. It entails accurately describing economic events, such as the Great Depression, explaining why such events occur, predicting under what circumstances such events might take place in the future, and recommending appropriate courses of action (p. 6)."
43. How Minnesota Became Above Average 1950s-2000s (Catching-up growth) Growth in quantity of resources Adoption and improvement of existing institutions and technologies from the technological frontier 2010 onward (Endogenous growth) Growth in quality of resources Development of new institutions and technologies that expand the technological frontier
44. The big questions for public policy: Do people follow jobs? or Do jobs follow people?
45. How Minnesota Became Above Average 1950s-2000s (People follow jobs) Public policy focus: Accumulate and attract more human and physical capital Technology transfer 2010 onward (Jobs follow people) Public policy focus: Improve quality of human and physical capital Technological innovation
