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Economics

GDP and You!

Gross domestic product (GDP) is the value of all final goods and services produced within a country. The reason GDP matters is that it is directly correlated to a reduction in human suffering. Economic growth is the primary differentiating factor between a life lived in the US and a life lived in North Korea. Economic growth is the […]

Categories
Economics

Wealth Inequality in America

Infographics on the distribution of wealth in America, highlighting both the inequality and the difference between our perception of inequality and the actual numbers. The reality is often not what we think it is.

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Economics GDP Government Spending

Get Society Rich Quick: The Ideal Level of Government Spending

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 […]

Categories
Debt Economics Federal Reserve Financial Sector Housing Bubble

Housing Bubble Wastes $2 Trillion on 14 Million Empty Houses

Empty houses in the US = 14 million. Median Home Price = $160,000. Money Wasted on Building Unneeded Homes = $2 trillion. Why would Americans be so dumb as to build 14 million houses they didn’t need?  The two primary reasons we built too many houses are: The United States spends more than $100 billion annually to subsidize homeownership.  The mortgage […]

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Corporate Welfare Economics Financial Sector GDP

Historical Examples Show Government Intervention Only Prolongs Economic Downturns

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.

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Debt GDP Government Spending

The Future of US Government Debt

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.