Tag Archives: trade

Econ 101 – Jobs and Income Growth

At long last the economy has more or less reached full employment. The December 2016 unemployment rate was 4.7 percent while the Federal Reserve’s assessment of normal full employment (NAIRU—non-accelerating inflation rate of unemployment) is 4.8 percent. More over, wage … Continue reading

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My Political Platform for the Nation – 2017

For me, the ideal American government would deliver its important but limited functions efficiently and effectively and would raise the money to pay for these activities with efficient, minimally distorting (neutral), and fair taxes following a principle of maximum subsidiarity … Continue reading

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Save Trade

I have written about the importance of trade to our standard of living many times because it seems to be under attack. The graph below, which reflects Angus Maddison’s data showing a massive increase in income throughout the world over the last … Continue reading

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Globalization and Nationalism: Good and/or Bad?

Globalization is under attack and nationalism is on the rise. The evidence includes the election of Donald Trump. But what is this globalization these people are so opposed to? After 1945—after the Great Depression and two world wars—Western nations established … Continue reading

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What do Trump supporters want?

Dear Jeff (Giesea), Thank you for reaching out to non-Trump supporters in the search for dialog and better understanding. I fully agree with you that we need civil discussion, which requires assuming the good intentions of those across the table. … Continue reading

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Trade and Globalization

Specialization and the accompanying astounding development of productive technologies have lifted the standard of living around the world to unbelievable heights over the last three centuries. Trade—selling what we specialize in making and exchanging them for the wide range of … Continue reading

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Brexit

The reality of Brexit unleashes a flood of questions, most of which cannot be answer for quite a while. The near term consequences of the UK’s exit from the European Union will depend on the details of the divorce, which … Continue reading

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