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 […]
It is commonly claimed that government spending is good for the economy, but the statistics show the opposite. Most recent studies find a negative correlation between total government size and economic growth. Why is economic growth important? Because wealthier societies are generally happier societies. No matter how good things get for us, we always want more. Human beings want […]
We’re taxing successful, competently run businesses to subsidize irresponsible, poorly run businesses. Until we realize this simple fact, the previous trend of increased productivity and standards of living will only be a memory.
Those who say “These are extraordinary times. We can’t afford to worry about the national debt now. We’ll be in a better position to deal with that later.” should check out these projections.