Categories
Economics Healthcare

How much does it cost to develop a drug?

The average cost of getting a new drug to market is $1.3 billion.

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Economics Federal Reserve Government Spending

When the government prints new money, who gets it?

The primary recipients of newly created money are currently banks and corporations who are able to borrow from the Fed almost 0% interest and loan this to the public at much higher interest rates.

Categories
Economics Utilitarianism

A World Run By Economists

If only economists could run for office, the the compound interest on more efficient resource allocation, would have produced a utopia with flying cars by now.

Categories
Economics

How to Identify the Bottom of a Stock Market Correction

This chart shows when the cost of the average stock (the S&P 500) exceeds its underlying value (corporate profits after taxes).

Categories
Economics

Long-Term Trends in Human Well-Being

For millennia, everything sucked. Then something magical happened!

Categories
Economics

US Stock Market Grew 3 Times Faster Under Obama Than Trump

U.S. stocks gained 21% for the first two years of the Trump administration. versus 71.2% in the first two years of the Obama administration.

Categories
Economics

How much money is there in the world?

In 2017, the entire world produced about $127.8 trillion of wealth (GDP). 

Categories
Economics

What percent of economists support protectionist tariffs?

0% of economists expressed support for tariffs in a recent poll.

Categories
Corporate Welfare Federal Reserve Financial Sector GDP

Financial Sector Costs Us More than Any Other Sector In Economy

The financial sector receives more of the average paycheck than any other sector of the economy.  Its share of the economy totals $2 trillion dollars. In 1985, the financial sector earned less than 16% of domestic corporate profits.  Today, it’s over 40%. In the 1960s, finance and insurance accounted for only 4% of GDP, whereas in 2007 […]

Categories
Economics

Keynsian Creationism and Intelligently Design Economies

The mythology of effective Keynesian centralized economic planning is born of the same mother as the mythology of creationist intelligent design. Both of these fantasies arise as a result of the human mind’s inability to deal with complex systems.