We all keep hearing that the Fed (the Federal Reserve) is confounded. The economy is growing (albeit slower than they would like), but inflation- given the unemployment rates- is virtually non-existent. And, what else is non-existent is a real rise in wages.
Let’s consider a few claims made by both parties.
They believe in Capitalism, but not Crony Capitalism. Except they we protect firms with special rules to preclude their failure. They encourage these firms to line their pockets (oh, wait- they call them political contributions) so they write special tax provisions to give them unfair advantages.
On Friday, I wrote about the income inequality problem. Well, that discussion really has been one of the recurring themes of my blog- because the problem is so widespread. (I even have published a monograph on the subject.)
We all have heard it. Beware the disruptive technology that will change the way things happen in this world. But, having developed more than my share of new innovations, I can guarantee you that the world does NOT beat down the doors of those with better mousetraps.
It’s time to review the facts again. Because it’s reporting season- when companies let us know how profitable they’ve been- and how much we should reward the CEO’s who (they want us to believe) are solely responsible for this situation. Yet, these same CEO’s seem to get rewards even if the results are poor. So, before I switch gears, let me just say I look forward to the promised regulations that will require companies to publish performance gains AND CEO pay increases side by side.
So, I was examining some publications from UVa recently and found one really interesting. Up until I realized it was really from the gin mill run by Rick Berman. (I‘ve written about Rick Berman and his Employment Policies Institute . But, most of the time, the articles (biased and conclusions developed BEFORE the research is completed) are written by a different author. As such, I kept reading- and now will share them with you. I will be editorializing at points- but, as opposed to Berman’s minions, I will make sure you know when, where, and why.)