Likewise, as we increasingly consume music on compact discs rather than in concert halls, our demand becomes more focused on a shrinking number of musicians. Of course, not all technological change has been hostile to lesser ranked performers. Computerized typesetting, for instance, has enabled publishers to bring niche books to market with smaller print runs. But even here, the growing importance of mass communications and national bestseller lists has steadily boosted the share of total book sales accounted for by a small handful of celebrity authors. In market after market, these and other similar changes in market structure have sharply increased the value of the top performers relative to their lesser ranked rivals.
The IS-LM model
A Cartesian-space IS-LM model illustrating step-by-step how the macroeconomics curves arises from points. It reproduces what usually students learn in universities throughout the world, offering the possibility of changing the model parameters. It is a second example of Prof. Masaru Uzawa 's collection of software.
The Fed reacted to the Great Recession with a large scale increase in the monetary base. This creates expectations ranging from runaway inflation to a concern that a recession will follow. Many have moved to the investing sidelines as a result of the uncertainty. The response to money is more credit at low interest rates. The net outcome depends on whether this stimulus results in real investments that generate income streams that retire the incurred debt. If the real investments do not pay for themselves, there is only short term gain and long term pain.