Archive for the ‘Economics’ Category

The Best of Times, The Worst of Times

Charles Dickens’ immortal phrase portrays a time of radical opposites taking place at the same time in a 1859 historical novel, A Tale of Two Cities. set in London and Paris before and during the French Revolution.  Are we at a similar time of radical contrasts?  Are similar consequences likely? Current technology and economic trends […]

Who Pays Taxes

I am in the middle of reading Rebellion, Rascals and Revenue: Tax Follies and Wisdom Through the Ages (Princeton University Press, 2021) by Michael Keen and Joel Slemrod.  This delightful volume provides an entertaining history of taxation, which they define as “the extraction of resources by coercive rulers.”  This got me thinking about taxation in […]

How to Get Ahead

Let’s say technology innovations relevant to your enterprise happen every N years.  Further, it takes you M years to decide to adopt an innovation and once adopted the innovation is sustained for L years.  To remain at the forefront, you need at most M = 1 and L = 1.  That way, you will always […]

Health, Education & Productivity

A recent email brought notice of four impressive National Academy reports.  Two were 2021 reports on High Quality Primary Care and The Future of Nursing.  One was a 2017 report on Pathways to Health Equity and the other was a 2012 report on Primary Care and Public Health.  These are all impressive pieces of work. […]

Addressing Complications

The world seems to be coming increasingly complicated.  Everything seems connected to everything.  It seems reasonable to argue that this has long been the case.  Diseases migrated from the old world to the new world, as did social and cultural norms.  However, this process took years or decades. Now, accelerated by technology, it takes days […]

The Spectrum of Talent

Economic growth, many argue, stems from technological innovation.  Does technological innovation depend on the flow of STEM talent from our educational system?  That certainly was not the case in the 19th and 20th centuries.  Inventors emerged from all corners of society, few equipped with degrees in science and technology. The transformation from inventions to innovation […]

Investment Priorities

We have, of late, been focused on federal policies to assure and enhance the STEM talent pipeline in the US.  There is a widespread sense that the pipeline is not as robust as the economy and competitiveness requires.  Are we trying to “fix” STEM?  Maybe, but we need to keep priorities in perspective.  As I […]

What Has Changed

I began my career as an engineering assistant at Raytheon over 50 years ago.  Since then, I have founded and managed five high-tech companies, and held faculty positions at six universities.  These experiences led to working with 100+ companies, agencies, foundations, etc.  What has changed over the course of this journey? Increased computing power at […]

The Inequality of Hidden Taxes

The 2020-21 “multi-demic” of the coronavirus, economic disruption, and racial unrest has prompted a wealth of promising ideas for how to improve everyone’s lives in terms of health and wellness, economic security, and racial equity.  As appealing as these ideas may be, they will face enormous implementation challenges and hurdles. We have been here before […]

Theory to Practice

According to Wikipedia, “Critical race theory is an academic movement of civil rights scholars and activists in the United States who seek to critically examine the law as it intersects with issues of race and to challenge mainstream liberal approaches to racial justice.  Critical race theory examines social, cultural and legal issues as they relate […]

The Business of Lying

Bill Bryson’s remarkable book, Made in America: An Informal History of the English Language in the United State (William Morrow, 2001), chronicles the history of the English language in the US.  His chapters on travel, cooking, shopping, and advertising are particularly compelling. A key element of Bryson’s story concerns how we are convinced to value, […]

Making Money Without Providing Value

What if you could make money by selling people securities, or equivalent, that have no inherent value, but people think will eventually be worth substantially more than they paid you for them?  You can potentially make money from an endeavor that provides no value to the economy or society.  You can make money off of […]

The Wild West of Commodity Trading

I recently read Javier Blas and Jack Farchy’s The World for Sale: Money, Power, and the Traders Who Barter the Earth’s Resources (Oxford University Press, 2021).  This fascinating book reads like a novel, almost a page turner.  What will the traders do next? They chronicle the history of commodity traders of oil, grain, metals, and […]