Tag Archive: economic growth

Jun
20

The Lack of Slavery May Be Hurting Economic Growth; Or, How to Miss the Forest of Human Flourishing for the Trees of GDP Growth.

On June 13th, Tyler Cowen published a piece in the New York Times entitled, “The Lack of Major Wars May Be Hurting Economic Growth”.   In it, Tyler suggests that “the very possibility of war focusses the attention of governments on getting some basic decisions right – whether investing in science or simply liberalizing the economy.  …

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Permanent link to this article: http://wkubbtcenter.com/2014/06/20/the-lack-of-slavery-may-be-hurting-economic-growth-or-how-to-miss-the-forest-of-human-flourishing-for-the-trees-of-gdp-growth/

Aug
02

Government and Entrepreneurship

If everyone did the same thing they did yesterday, the economy would never grow.  For thousands of years in human history, people did roughly the same thing every day.  They did the same thing their parents and their grandparents did.  Mainly this involved planting, reaping, hunting, and gathering with rudimentary tools.  Life, as Thomas Hobbes …

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Permanent link to this article: http://wkubbtcenter.com/2012/08/02/government-and-entrepreneurship/

Jul
27

Where’s the Growth?

You Didn’t Build That The government reported today that GDP growth in the second quarter was a mere 1.5%.  The average growth rate over the last two years has been 2.1%.  From 1950 through 2011, the economy averaged a growth rate of 3.3%.  The economy that has been growing more slowly than normal is now …

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Permanent link to this article: http://wkubbtcenter.com/2012/07/27/wheres-the-growth/

May
16

The Certainty of Bad Policy Makers

Do you know what your tax rates are going to be next year?  Will the Bush tax cuts expire as planned?  How will that affect you?  Will the payroll tax “holiday” be extended?  Will the debt ceiling be raised?  Will it be another temporary last minute deal that involves no real spending cuts but makes …

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Permanent link to this article: http://wkubbtcenter.com/2012/05/16/the-certainty-of-bad-policy-makers/

May
04

All Play and no Work Makes the US a Poor Country

Sometimes looks can be deceiving.  April’s unemployment rate fell from 8.2% to 8.1% which looks good.  On the other hand, the labor force participation rate continued to fall and hit a 30 plus year low.  Fewer people are in the labor force now than were there at the beginning of the economic recovery.  If the …

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Permanent link to this article: http://wkubbtcenter.com/2012/05/04/all-play-and-no-work-makes-the-us-a-poor-country/

Mar
19

Blind(er) Faith in the Government

Alan Blinder was at it again in Monday’s WSJ, as he warned against a 2013 fiscal cliff.  One wonders if he is not too blind to tell the difference between a cliff and a mountain.  The cliff Professor Blinder worries about involves programmed tax increases and spending cuts set to take effect in January 2013.  …

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Permanent link to this article: http://wkubbtcenter.com/2012/03/19/blinder-faith-in-the-government/

Oct
03

Homeownership is Over-rated: Did Homeowners in Atlantis enjoy being Underwater?

For years the US federal government has been obsessed with increased home ownership.  This obsession has led to the slowing of the US economy.  The problem began with the creation of the income tax in 1913 that excluded interest payments on all debt from being considered taxable income.  In 1986 that personal interest deduction was …

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Permanent link to this article: http://wkubbtcenter.com/2011/10/03/homeownership-is-over-rated-did-homeowners-in-atlantis-enjoy-being-underwater/

Oct
04

Economic Uncertainty Will Stunt Your Growth

I don’t let my children consume caffeine. When they ask why, I tell them that it will make them small and tiny (not that those aren’t the same things). What I mean to tell them is that caffeine can stunt their growth. If they want to be big and strong, they should drink their milk. …

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Permanent link to this article: http://wkubbtcenter.com/2010/10/04/economic-uncertainty-will-stunt-your-growth/

Mar
15

Production, not Consumption, Creates Wealth

Unlike manna that just falls from heaven, wealth has to be created. A tree can only be turned into a house by adding to it some mix of labor and capital. The same is true for oil under the North Sea – it can’t power my car until labor and capital are used to improve …

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Permanent link to this article: http://wkubbtcenter.com/2010/03/15/production-not-consumption-creates-wealth/