Tag Archive: capitalism today

Feb
17

There’s more than Cheese in Wisconsin

On Saturday mornings when I was a kid, ABC routinely ran public service announcements. One that I still remember featured a character that encouraged cheese consumption. Amongst other things, he said, “When my get up and go has got up and went, I hanker for a hunk of cheese”. Wisconsin, the unofficial “cheese state”, caused …

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Permanent link to this article: http://new.wkubbtcenter.com/2011/02/17/there%e2%80%99s-more-than-cheese-in-wisconsin/

Feb
09

Love, Logic, and the Economy

In an effort to help me become a better parent, my wife signed us up for a parenting class.  This particular class is based on the Love and Logic® curriculum.  The following quote is from their website: “Love allows children to grow through their mistakes. Logic allows children to live with the consequences of their …

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Permanent link to this article: http://new.wkubbtcenter.com/2011/02/09/love-logic-and-the-economy/

Feb
03

Exempted from the Rule of Law?

I’ve always lived by the motto that rules are needed and that it’s really good if other people follow them – but they don’t really apply to me. Apparently I’m not the only one. President Obama seems to have trouble with the concept of universally applied rules as well. The difference is that if I …

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Permanent link to this article: http://new.wkubbtcenter.com/2011/02/03/exempted-from-the-rule-of-law/

Jan
27

Life, Liberty, and the Pursuit of Happiness

Once upon a time, a group of American colonists rebelled against the country of their birth in order to secure their rights to life, liberty, and the pursuit of happiness. So just how successful has the US been in protecting these rights? Let’s do a little comparison with other former British colonies. Like the United …

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Permanent link to this article: http://new.wkubbtcenter.com/2011/01/27/life-liberty-and-the-pursuit-of-happiness/

Jan
21

Capitalist Insights from Vegas to “Portlandia”

I’ve just returned from a three week trip with students to Las Vegas, The Grand Canyon, San Francisco, Napa Valley, and Portland, Oregon. Below are random capitalist insights from the trip: Bubbles can exist, and they do pop: Las Vegas went from being the fastest growing MSA (metropolitan statistical area) in the US to one …

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Permanent link to this article: http://new.wkubbtcenter.com/2011/01/21/capitalist-insights-from-vegas-to-%e2%80%9cportlandia%e2%80%9d/

Jan
01

“Reasonable” Persons and Caveat Emptor

Economic actors all have roles to play. The role of business people is to produce goods and services that people find to be wealth/happiness increasing. The role of governments is to define and enforce property rights. The role of consumers is to save and consume in such a way as to maximize their wealth/happiness. These …

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Permanent link to this article: http://new.wkubbtcenter.com/2011/01/01/%e2%80%9creasonable%e2%80%9d-persons-and-caveat-emptor/

Dec
28

Economic Victimhood

I stayed up “too late” watching North Face (2008) last night. The movie is about mountain climbers in the 1930’s. The relevant subplot that tweaked my interest revolved around the newspaper reporter who was only interested in a mountain climbing story if either one of two events occurred: a successful ascent of The Eiger, or …

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Permanent link to this article: http://new.wkubbtcenter.com/2010/12/28/economic-victimhood/

Nov
17

Reducing the Federal Deficit: A bandwagon worth jumping on

Last week I provided broad parameters for reducing the federal budget deficit. Since then President Obama’s Debt Commission co-chairs have made some preliminary suggestions for reducing the deficit. It’s actually a pretty good read. They suggest major and minor cuts in spending alike. Since then it seems that everyone has been making suggestions for reducing …

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Permanent link to this article: http://new.wkubbtcenter.com/2010/11/17/reducing-the-federal-deficit-a-bandwagon-worth-jumping-on/

Nov
04

Should We Even Teach Macroeconomics?

Should we even teach macroeconomics? That sounds like an odd question for a macroeconomics professor to ask, but I’ll ask it anyway. The best economists I have ever had the privilege of knowing don’t believe in macroeconomics. They believe that microeconomics is a powerful tool for analyzing peoples’ decision making. Macroeconomics, as it is often …

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Permanent link to this article: http://new.wkubbtcenter.com/2010/11/04/should-we-even-teach-macroeconomics/