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A Mess 30 Years in the Making
A Mess 30 Years in the Making Promises of Slop “We have assembled a best-in-class team of policy advisors to drive President Trump’s bold plan for job creation and economic growth.” – Gary Cohn, Chief Economic Advisor to President Trump The art and science of spending other people’s money is not an occupation suited to […]
Policy Makers, like Generals, Are Busy Fighting The Last War
Policy Makers, like Generals, Are Busy Fighting The Last War The Maginot Line formed France’s main line of defense on its German facing border from Belgium in the North to Switzerland in the South. It was constructed during the 1930s, with the trench-based warfare of World War One still firmly in the minds of the […]
Private Capital Allocation Matching Only the Great Depression for Inefficiency
Private Capital Allocation Matching Only the Great Depression for Inefficiency The Summary: Economic policy objectives (monetary and fiscal) are meant to incentivize domestic private business investment, which drives incomes and the money multiplier effect, i.e. the engine of the economy. Economic policy objectives have failed because CEO’s, the private capital allocators, simply cannot accommodate business […]
Some Thoughts on Systems Change
Some Thoughts on Systems Change It becomes clearer with each passing day that simply ameliorating current problems is not going to be sufficient. This blog is about how we might scale up transformative change. There is an ongoing litany of alarming and depressing news regarding climate change and the growing gap between our aspirations for addressing […]
Too Little, Too Late
Too Little, Too Late Last week, after a great deal of debate, the passengers aboard the Titanic voted to impose modest limits sometime soon on the rate at which water is pouring into the doomed ship’s hull. Despite the torrents of self-congratulatory rhetoric currently flooding into the media from the White House and an assortment of groups […]
A Hard Look at a Soft Global Economy
A Hard Look at a Soft Global Economy MILAN – The global economy is settling into a slow-growth rut, steered there by policymakers’ inability or unwillingness to address major impediments at a global level. Indeed, even the current anemic pace of growth is probably unsustainable. The question is whether an honest assessment of the impediments […]
Is GDP Over?
Is GDP Over? Economists from rich countries increasingly agree: Sustainable development and reducing inequality matter more than economic growth. (Photo: World Bank Photo Collection / Flickr) Organizers of October’s fifth OECD World Forum on Statistics, Knowledge, and Policy could barely contain their sense of satisfaction when the three-day event opened in Guadalajara, Mexico. Why all […]
Kurt Cobb: Money Cannot Manufacture Resources
Kurt Cobb: Money Cannot Manufacture Resources Disproving the fatal assumption central planners make Author Kurt Cobb writes frequently on energy and the environment and warns that our current economic policy suffers from a fatal degree of magical thinking: sufficient new resources will emerge if the price is high enough. As any fourth grader will tell you, […]
Study Finds Local Taxes Hit Lower Wage Earners Harder
Study Finds Local Taxes Hit Lower Wage Earners Harder When it comes to the taxes closest to home, the less you earn, the harder you’re hit. That is the conclusion of an analysis by the Institute on Taxation and Economic Policy that evaluates the local tax burden in every state, from Washington, labeled the most regressive, to […]
Hugh Hendry and the “Blue Pill” |
Hugh Hendry and the “Blue Pill” |. Distorted Markets We have always liked Eclectica fund manager Hugh Hendry for his sound views and outspoken manner. Below is a somewhat dated video compilation showing several moments in which he stunned his opponents in television debates by voicing uncomfortable and politically incorrect truths. Included in the video […]
China’s Vicious Growth Circle by Keyu Jin – Project Syndicate
China’s Vicious Growth Circle by Keyu Jin – Project Syndicate. LONDON – Most economists have a reason to be worried about China’s economy – whether it be low consumption and large external surpluses, industrial overcapacity, environmental degradation, or government interventions like capital controls or financial repression. What many fail to recognize is that these are […]
