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By Richard on December 28, 2010
Profit has its uses, chiefly it is an incentive to invest, invent, and take risks. We tolerate profit because it drives innovation, increases supply, and improves our standard of living, all of which are positive social outcomes. However, companies pursuing profit-maximization can employ strategies that are admittedly very effective in making money but come at […]
By Richard on December 12, 2010
When George W. Bush’s architect Karl Rove dreamt of Republican political domination for the future, he came up with the “ownership society“. This was implemented in the form of attempted social security privitization, whereby everyone would have a tangible stake in society. That is, we would all become capitalists and share in the wealth created. […]
By Richard on December 9, 2010
The fastest way to a one term presidency: The left thinks you’re Hitler. The right thinks you’re Stalin. The center thinks you’re spineless with no core values. At least George W. Bush had a base.
By Richard on December 6, 2010
Mitch Chao seems to think so: The root cause of current massive unemployment in this nation is result of rapid transformation of technology landscape and management innovation. The nature and aim of majority technological advance is to enhance efficiency and reduce cost, mostly labor cost. Anyone fly recently? Did you notice self-check in lane (you […]
Posted in Economics