Abba Lerner was the milton friedman of the left. Like Friedman, Lerner was a brilliant expositor of economics who was able to make complex concepts crystal clear. Lerner was also an unusual kind of socialist: he hated government power over people’s lives. Like Friedman, he praised private enterprise on the ground that “alternatives to government […]| Econlib
Bond markets are important components of capital markets. Bonds are fixed-income financial assets—essentially IOUs that promise the holder a specified set of payments. The value of a bond, like the value of any other asset, is the present value of the income stream one expects to receive from holding the bond. This has several implications: […]| Econlib