Posts Tagged ‘policy’

“The High Cost of Good Intentions, a history of U.S. entitlement policy…. the evolution of government pensions…. ┬áthe hard-to-believe but true fact that there is still one person receiving monthly checks from the Civil War veterans pension program.” -John Cogan

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“Here’s a chart based on research from the Economic Policy Institute that describes the problem. As you can see, productivity in this country grew nearly 250% between 1948 and 2014, but median wages only grew 109%…You’ll also notice that the divergence begins around 1971… the year President Nixon removed the U.S. dollar from gold.

Why? Because paper money doesn’t transmit gains in productivity like real, sound money should.

In short, when the dollar was unlinked from gold, the government was granted the ability to create unlimited amounts of new money. But this money doesn’t flow to everyone equally. It is created in the banks, and then works its way through the financial system before eventually trickling down through the real economy. The result is that asset and consumer prices have risen far faster than wages.” -Justin Brill

Great Risk

Posted: October 25, 2017 in Thought for the Day
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“The policy of being too cautious is the greatest risk of all.” -Jawaharial Nehru

“The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.” -Henry Hazlitt

Long Term

Posted: August 28, 2016 in Economics
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“The art of economics consists in looking not only merely at the immediate but at the longer effects of any act or policy.” -Henry Hazlitt

Welfare Wealth

Posted: November 8, 2015 in Economics
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The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.” -Alan Greenspan 1966

“The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group, but for all groups.” -Henry Hazlitt