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Category Archives: Economics

New Buildings and Old Sidewalks


In line for a performance in Los Angeles. Standing on an old, warped sidewalk. Building across the way getting a new facade. Lame conversation behind with three heads echoing a single thought, before interrupted. Girl posed a question: “What do you want to talk about?” What indeed. Struck by the oddity of new and old […]

What is an efficient “Free Market”?


The “Free Market” meme is very popular. The usual definition is a market without government intervention, and somehow efficient. From where does this notion come? One gift to European-derived societies, earned in the “Dark Ages”, is the notion that society and government are separate, and that society can exist without government (where we associate “government” […]

That’s not correct (on economics)


Seems the folk that write about economics are largely idiots. OK … maybe that is a bit strong, but with so many examples like this, it is hard to come to any other conclusion. The shift in income shares since the 1970s — from the middle and bottom to the top, as well as from […]

How improve both oil production and the economy


Part of our economic mess starts with the huge flow of dollars sent outside the country to buy oil. We could produce oil from domestic sources, but the base cost is higher than pumping oil out of the ground and shipping halfway around the planet. If the market price is high enough, investing in production […]

Another take on the class system


Reading about the British class system, was surprised at one aspect. Pretty much anyone who reaches a notable level of achievement can get knighted. The class system in Britain – across generations – is not static. We have an unresolved problem. At the start of life and career, we want rough equality of opportunity. But […]

Where does “capital” come from?


A question for which I do not have an answer…. Where does “capital” come from? Or more precisely – by portion, and in the present day, where does “capital” come from? Is the bulk of capital currently hunting for a place to invest, from: Baby-boomers saving for retirement. Trust fund kiddies – or more exactly […]

Recovery whiplash?


While I do not pretend to be any sort of “financial wizard” (right – look where those folk got us), there is I think a single common cause driving our economic roller-coaster. The single cause is a flood of capital, accumulating at a compounded rate. Capital flooded the “developed” countries, overflowed, and was enough to […]

Subcutaneous fat, and global resurgance


Watching an episode of Anthony Bourdain’s mis-adventures – this time in Vietnam – and what strikes me as most meaningful is the presence of subcutaneous fat. This single observation, even amid the current economic mess, makes me oddly hopeful. Vietnam – as an after-effect of the American war there – suffered a measure of neglect. […]