Markets can't tell the difference between a lack of demand and a lack of ability to express demand
Do you like markets? Well, whether you like them or not, they're pretty effective in most cases. The ability for two people to make an exchange where both feel they leave the exchange better off than prior to the exchange is a powerful thing. It's a form of democracy. By exchanging money for goods and services, people in markets are . . .
Discussing the future of work is all the rage these days. Some say we're on the verge of the robot apocalypse of jobs. Others say jobs will always be created in sufficient numbers (and at sufficient rates) and that everything will be fine. Regular readers know where I fall on this particular question, that either way, our goal should be . . .
(This is an excerpt from my piece titled "How We Can Transform America’s Broken Economic System to Work for EVERYONE". You can read it in full on Medium.
Per citizen calculations are based on 92.8% of the US population being legal citizens.)
The following is a short list of our shared expenditures as a society. On the . . .