Just Build Something
The mention of Thomas Edison may provoke thoughts of creative energy and invention, but his real contribution to America’s emergence as a world superpower stems from manufacturing. In 1892, he founded General Electric, which today is the last of the original industrial firms to remain listed on the Dow Jones Index. During its storied history, […]
How to Stimulate the Economy
Halloween will soon be upon us. It is called a “holiday”, although I don’t know of anyone who gets the day off – not even the Post Office. We will spend $11.3 Billion to celebrate, although we’re not exactly sure why. Around $350 Million of that will go for costumes for pets, who […]
Weed Entrepreneurs
During the last major election, there was a lot of talk about getting the economy kick-started. Words like “innovation”, “education” and “entrepreneur” were tossed about with reckless abandon. By a rather narrow margin of the popular vote, the American people felt that Barack Obama was the best equipped to turn things around. Another result of […]
Alexander Hamilton
History tends to repeat itself, especially if, like America’s, it spans some 200-plus years. Politicians study history when they are trying to get re-elected, but it also has some lessons for the next fiscal cliff. None other than the Revolutionary War left our newborn country with an overwhelming deficit, along with looming tax hikes and […]
Panhandler Makes $60K
Beggars have always been drawn to the beachside resort community of Santa Barbara. The climate is mild year-round, and the residents and visitors are generally affluent. Local businesses have tried in vain to chase them away; the latest “Don’t Feed Our Bums” campaign featured signs and bumper stickers, to no avail. My wife and I […]
The Spiraling Cost of College
Here in California where I currently reside, the cost of a college education is a hot topic. The University of California system, arguably one of the best in the country, is caught in the vise of the Golden State’s financial woes. On one side, there is the perception that the only way the […]
PhDs on Food Stamps
When I am asked if getting a PhD was “worth it”, I presume this to be a question about return on investment. The short answer is no. The long answer, factoring in the lost opportunity cost of those long years as a poor graduate student and the narrower job market, is the same. There […]
Managed Care
My annual physical used to begin with a visit to my doctor’s office, where lab work would be completed by his nurse. About a week later, I would report to the same office where the same nurse would take an EKG, the “vitals”, and lead me to my doctor’s office. He would chat with […]
The Economy Game
In the following parable, the names have been changed to protect certain individuals, and to avoid potential lawsuits. The national championship game between the Donkeys and the Elephants is tied at 100-100 with one second remaining. The Elephant’s all-star forward is at the free throw line with one shot left and the game in […]
Peyton Manning’s Layoff Story
Near the peak of the Great Recession, Peyton Manning got laid off. Like millions of Americans before him, he was an aging, highly paid specialist with medical issues. As is often the case, there was a younger, less expensive employee waiting in the wings, ready to bring new energy and skills to the position. […]
