Comments, Ideas, and Analysis

I am not going to write too much, if possible, about the virus situation in Japan, other than what is already in the economic news articles I might comment on.  I am, like everyone, not a medical expert and as such I am not going to make statements about this or that related to the virus. We all have our own ideas and opinions. I am going to leave mine silent and not project them in the blog, other than "Lets all have hope, that everyone stays safe."

The blog once again is just observations and ideas, nothing more. Economics, for the most part, is an observation science, along with being a social science. In that the economy and society is an economist's laboratory, where they observe and see different activities in a natural setting as they take place. There is no manipulation of data or this or that variable that you see in laboratory experiments to see what might happen. The science of economics just observes and watches how different activities in an economy and society play out each day, week, month, quarter, and year, and then try to make some sense out of it, to help explain what might be happening.

Many years ago there were two very important economists by the names of Milton Friedman and Paul Samuelson. They were important in the growth of economics, but even more importantly they were very important in mainstream society, in that they wrote many articles for mainstream magazines, about economic issues and society. They essentially brought economics to everyday society.

And along those same lines, Peter Drucker, wrote about business, not from an academic point of view but always focused on writing for society and business managers as such, and not so much for academia. He wrote many articles and books for society and practicing managers, and he wasn't focused too much on writing for academia. His focus was always businesses and society, not academia, other than when he was in the classroom.

Recently, maybe Paul Krugman and his New York Times articles, might be carrying on the same tradition of bringing economics to the mainstream and trying to talk about the issues of the day and not just limiting them to academic journals where only a few might read the article, and it might not even have anything related to "real world" economics or current event economics as they are actually happening in an economy or society, the "real world" laboratory.

So once again this blog is just observations, using news articles and they appear in reliable news outlets and nothing more. The goal of the blog is not just economics but observations about business and society too.

As I post articles, I might be getting behind but will eventually write/comment something about each article. I hope to add more about society and such and not just economic news.

I am also going to leave most things related to the Olympics, except for this or that in terms of economics to the team over at Japan Running News, as they do a very good job talking about different aspects of the Olympics.

Have a nice day and be safe out there!

© 2020, Tom Metts, all rights reserved