Law of Selfish Action
A selfish action by one person may be good for that person, but if all people make the same decision - it can be bad…
Category: Economics
Earning a living, investing for retirement, and understanding how world events impact our living standard.
Fallacy of Composition
It’s easy to overlook, if everyone makes the same choice, the entire system changes.
OPEC Extra Cost
High price of oil have elevated prices for all manufactured goods as well as across the transportation sector.
Free Market versus Status Quo
Are financial talking heads praising the return of free market action? No, they are bemoaning the decline in energy stocks and the change it forces…
An Empire of Wealth. John Steele Gordon
... much to admire about the book; nonetheless, the antagonism to the Glass-Steagall Act was striking in revealing Gordon's short-sightedness to the coming financial crisis,…
Inflation Measurement
Actual inflation occurs when your income can't buy the same daily goods with your salary
Deflation and Falling Energy Prices
Declining gasoline, diesel, and petrochemical prices help the non-energy economy grow, boosting activity that 90% of the GDP that is not in the energy sector.
Creative Destruction and the Social Contract
Financially arranged consolidation is not creative destruction. It is the transfer of assets without pension responsibility
Gas Price Inflation
In Twilight Zone episode, gas is 32.9 cents/gal. Now it's 10 times higher. What's the inflation rate?
Minimum Wage Boosts GDP
More of the worker’s income goes into economic activity, increasing GDP while the owners build their savings.