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The Broken Window Fallacy and Keynesian Economics

Critics of Keynesian economics often use the so-called broken window fallacy, advanced in the 19th century by the French economist Frederick Bastiat, to reject the role of government spending in stabilizing the economy.   According to this fallacy, if a hooligan breaks the window of a bakery, the subsequent repair expenditures by the baker will have…

Emerging Markets: Recipe for a Sustainable Growth

After a bullish performance for more than the last decade, the emerging markets are again slowing down due to external pressures exerted by the global markets. Their aggressive growth was fueled by strong commodity prices, thanks to double digit growth of China compounded by easy and cheap capital partly due to low interest rates in…

What Do You See?

What does accounting have to do with 19th century impressionistic art? At first glance, probably nothing. But if one stops to observe, question, think, evaluate, analyze, or imagine, maybe more than you expect. In the Wall Street Journal article “How to End the Age of Inattention” (June 1, 2012), Holly Finn wrote about a now…

A Semester at Sea

Introduction.  I am currently enjoying a Visiting Professor appointment with the University of Virginia, teaching three courses with that university’s Semester at Sea program.  The Institute for Shipboard Education owns a cruise ship and contracts with UVA to provide curriculum and faculty for this study abroad experience. The MV Explorer has been converted it into…

How Much Data is BIG Data?

A Fair Question.  Everyone in business is talking about Big Data, but the term is impenetrably, wonderfully vague in common use.  Certainly, it means dealing with large amounts of data, but businesses have been struggling with processing large amounts of data for eons.  The current emphasis on ‘Big data’ has to be more than just…

CSB Meets Shark Tank

You only have 15 minutes for this presentation. The last 12 weeks have been enduring. They have consisted of team meetings, research, interviews and game plans. What’s at stake? If your business plan wins, angel Investors will invest $100,000 in your company. Your palms are sweaty, you review your flashcards for one last time, answer…

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