Economics came to be called the dismal science because of Thomas Malthus who observed that population growth was several times faster than food production and would lead to starvation and wars.
Recently, Thailand and Vietnam –rice producing countries from which the Philippines (one of the countries in Southeast Asia with the highest population growth rate) […]
While Adam Smith introduced the invisible hand to economics, Thomas Malthus caused economics to be called the dismal science. Malthus observed that population was growing at a rate several times faster than food production, eventually leading to starvation and wars.
The World Grains Production Balance Sheet shows that there might be some truth in Malthus’ […]
The worldwide results are increases in wheat / corn / rice prices, shortages, hoarding,
food riots in some areas. The UN has reported a 35% in global average grain prices from last year, 65% from 2002.
Data from Philippine Daily Inquirer: “Tensions Rise as World Faces Food Crisis” (1 April) &
“Hungry Crowds Spell Trouble […]
A company who has had a poor performance resorts to “accounting noise” to make it look better than it really is (e.g., Enron, WorldCom, etc).
In addition to fudging revenue figures (recording future / potential income that may or may not actually be realized) and fudging expense figures (postponing the recording of expenses into the future), […]
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