Why are Economic Models Bad at Predicting the Future

Mark Thoma has a good piece at CBS news on why economic models are such poor predicters of the future.

Lifestyle Inflation

The Week has an article on lifestyle inflation or how spending increases with income - how middle class gets into such debt.

Evidence of Sticky Wages

Bloomberg has a good article that explains sticky wages in connection with data from the recent downturn to show evidence of sticky wages.  The article also has this nice chart:

Benefits of a Cashless Economy

The Economist has a good article about the benefits of getting rid of physical cash. A lot of good economic concepts with numbers are in the article.