The Invisible Ever-expanding Government Sector

One of the criticisms leveled against the Federal Government's efforts of the last couple of years in response to the Great Recession is that the "government is gettng too big".  Well as they say on TV, let's go to the tape.  Or, in this case, let's look at the actual numbers over time.  Fortunately, we … Continue reading The Invisible Ever-expanding Government Sector

You’re Not Going to Get Rich in the Stock Market

One of the enduring myths of 20th century American capitalism is that "anyone can do it".  Anyone can get rich, that is.  And one of the ways people are encourage to "get rich" is by wisely gambling investing in the stock market.  Unfortunately for countless numbers of people hoping to retire soon, it just isn't … Continue reading You’re Not Going to Get Rich in the Stock Market

Watch the Dealer, you “Lesser People”. The Deck is Stacked

I know I've mentioned it before (see here), but the deck is stacked against seniors, working people, and most everybody else that's not in the investment banker-politico ruling elite. Now let's take a look at some recent quotes from the co-Chair of the President's Commission on Fiscal Responsibility, Alan Simpson. Soon after he was appointed … Continue reading Watch the Dealer, you “Lesser People”. The Deck is Stacked

Do Copyrights Slow Growth?

Institutions and laws matter for economic development.  It is very clear from economic history that protection for property rights is necessary for industrialization and growth.  But that was always about property rights in land and physical stuff.  In the 1960's the phrase "intellectual property rights" was created, and many people have just assumed that protecting … Continue reading Do Copyrights Slow Growth?

Smells Like Deflation

Oh, buried in the press release on 2nd Qtr 2010 GDP estimates is this item: The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 0.1 percent in the second quarter, the same increase as in the advance estimate; this index increased 2.1 percent in the first quarter. Excluding food … Continue reading Smells Like Deflation

Turning Point: 1970’s

American economic history is neither linear nor smooth. Change happens in fits and starts. There are clear turning points where the structure of the economy, the distribution of income/wealth, and the distribution of power changes. Obviously the 1930's (Great Depression) was one such turning point. In retrospect, it appears the 1970's (or at least mid- … Continue reading Turning Point: 1970’s