If you’re wondering whether I am going to argue the current rate of inflation is not an issue, do not worry. Temperatures here in the Great White North have run 10 to 15 degrees above normal, so brain freeze is not at fault. Inflation, especially excessive inflation, affects the economy and the general population. Unless … Read more
Italian artist Salvatore Garau recently auctioned an invisible sculpture for 15,000 euros ($18,300). According to as.com, the sculpture’s initial price was set between 6,000 and 9,000 euros; however, the price was raised after several bids were placed. ~Newsweek/June 1, 2021 Was there a typo in the dateline? Did the story actually come from the April … Read more
The Invisible Back of the Hand Invisible hand, metaphor, introduced by the 18th-century Scottish philosopher and economist Adam Smith, that characterizes the mechanisms through which beneficial social and economic outcomes may arise from the accumulated self-interested actions of individuals, none of whom intends to bring about such outcomes. ~F. Eugene Heath/Encyclopedia Britannica Yesterday, a verbal sparring match between … Read more
This morning I decided it was time to address the “big lie.” No, not the one that has dominated the news since the November 2020 election. Not the one about elections or politics, but the one about federal versus state and local government. Or the related one about federal government versus the private sector … Read more
Since its inclusion in the House of Representatives version of the $1.9 trillion American Rescue Plan and parliamentary exclusion from the Senate version, there has been a lot of discussion about raising the minimum wage to $15/hour. Unfortunately, political debate over this issue has drowned out enlightening economic considerations. So let me take a … Read more