Category: Finance & Economics

I’ve been a fan of economic analysis since my high school days, when I read an article in the Baltimore Sun which explained how government contracts with a 10% profit limit can be gotten around. The trick involved setting up multiple companies, each passing off the contract to the next with their 10% built-in profit.

As an undergraduate, I minored in economics. My career has been in data processing, focused on financial systems.

I support free markets with regulations to protect their honest operation. My sympathy lies with the hard-working employee, since  executives already take care of themselves.

The Invisible Hand and Its Scar

Thumb on the Scale of Justice

If you’ve studied economics or the business pages, you’ve probably heard of the Invisible Hand. Adam Smith introduced the metaphor in The Wealth of Nations two hundred and fifty years ago. It’s been elaborated on and developed into a basic justification of unfettered free market economy. The Invisible Hand The invisible hand is a metaphor…

Missing Side of Budget Debates

Net worth

(Text, originally composed in 2005) Every year, all year, we hear about the United States federal deficit (this was written only three years ago and, although happily the yearly budgetary deficit is gone, the exclusive focus on the yearly income-outgo budget is still a flaw). The federal budget is worth serious and sober discussion, but…

Invisible Hand

The Invisible Hand (from jeff-for-progress.blogspot.com). Scrooge McDuck-looking character hoisted aloft on the Invisible Hand, looking down at 5 identical factories with tall chimneys spewing smoke in their industrious pursuits

We should not alter societal needs—equality of opportunity and equal reward for equal work—allowing a mythical Invisible Hand the power to stifle changes to the economic marketplace.

Fed Call for 2 Per Cent Inflation

The Fed’s call for 2% inflation is an indication that economists don’t have a complete economic theory that explains both production and price changes. If they did, they would advocate 0% inflation.

The great bulk of real inflation since 2009 has been in the stock market, making people who already own stock wealthier.