Perfect competition did a good job explaining buyer and seller behaviors in big city farmer markets in the late 1800s. But today, even absent a living example of a perfectly competitive market on Earth...…
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The Myth-Busting Economist
My last column celebrated the bicentennial of the Erie Canal. This one goes deeper into the ways government action can create prosperity for all of us. This flies in the face of being fed a constant diet of myths that any government actions and policies send us down the path to socialism.…
The Erie Canal changed the political and social fabric of a young American nation, not unlike the times we find ourselves in today. Historian Carol Sheriff explores many of those cultural themes in her award-winning book “The Artificial River: The Erie Canal and the Paradox of Progress, 1817-1862,” Sheriff renders a rich account of how the canal changed American life between the War of 1812 and the Civil War.…
In the president’s mind, the IRS vanishes and we all enjoy the same privileges as Musk, Zuckerberg and Bezos (aka the New American Oligarchs) because we won’t have to pay taxes! T…
The bottom line is this: Unless you radically change Social Security, Medicare, or Medicaid, all of which would require legislative action and the signature of a president, there are only two real choices to reduce spending.…
Most folks think you are wealthy if you have a lot of money. But having a ton of cash does not necessarily mean you are wealthy. That’s one of the bigger myths about how the economy works. To debunk it, we only need to revisit stories of individuals who die and leave behind loads of cash after appearing to be poor during their lifetimes.…
