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Economic Inequality Is Not Increasing. Propaganda Is.

Written by Gary North on April 9, 2016

ParetoPyramid

It never ends. We are besieged by articles on today’s increasing economic inequality. These articles have three things in common: 1. Each one has a favorite explanation/boogeyman. 2. Each one calls for political reforms to make things more equal. 3. Each one fails to mention Pareto’s 20/80 law. Here is the main problem with these […]

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Christianity and Wealth — Thatcher’s View

Posted on February 13, 2016

thatcher

By Margaret Thatcher Perhaps it would be best if I began by speaking personally as a Christian, as well as a politician, about the way I see things. Reading recently, I came across the starkly simple phrase: “Christianity is about spiritual redemption, not social reform.” Sometimes the debate on these matters has become too polarised […]

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Economic Inequality: Jesus vs. Rev. Jim Wallis

Written by Gary North on October 24, 2015

jim-wallis

Economist Vilfredo Pareto announced a discovery in 1897: about 20% of the families in Italy owned 80% of the land. He went on to study the distribution of wealth in other Western European nations. The same distribution held true. Subsequent studies of national economies have revealed the same distribution, no matter what their politics are. […]

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We’re Wealthier Than the Government Says

Written by Gary North on September 12, 2015

wealth

Most economic statistics don’t lie, but they mislead. The statistics produced by the Bureau of Labor Statistics are pretty good, according to prevailing economic theory and statistical theory, but they are misleading to a fault. This is not because the government rigs the statistics. It is because objective statistics cannot deal effectively with subjective value. […]

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Paycheck to Paycheck: Don’t Get Fired!

Written by Gary North on April 18, 2015

paycheck

Thrift? What’s that? This is the outlook of most Americans. It affects even the high-income crowd. Even wealthier Americans are struggling to save enough for retirement, according to a new survey. The report, released Thursday by SunTrust, found that even among households with incomes of $75,000 or more, roughly a third live paycheck to paycheck […]

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Income Falls, Spending Rises

Posted on April 7, 2015

falling-income

Bad news for most Americans: Yellen’s recovery isn’t working. Most Americans’ incomes continued to fall last year, but the richest 20 percent saw theirs rise, a new Labor Department report showed Thursday. In fresh data that adds fire to a growing debate over income inequality, the department said that Americans on average saw income decline […]

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The Middle Class Is Slowly Shrinking

Written by Gary North on February 9, 2015

middle-class

News from Pew Research. The share of adults who live in middle-income households has eroded over time, from 61% in 1970 to 51% in 2013. Although the share is unchanged in recent years – it was the same in 2010 – the erosion over the last four decades has been sure and steady, through economic […]

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My Latest Book: Free

Written by Gary North on January 24, 2015

gary-north

My new book is now typeset: The Covenantal Structure of Christian Economics. You can download it here: http://www.garynorth.com/CovenantalEconomics.pdfIt is different from every other book you have read on economics. It begins with this question: “Who owns this?” This is the most divisive question in economic thought. Because it is divisive, economists ever since Adam Smith […]

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High-Output Marriages

Written by Gary North on October 2, 2014

wedding-rings

For most people throughout history, marriage has been the primary means of attaining increased production. The reason is simple: the division of labor. It enables people to specialize. Specialization increases output per unit of resource input. That is how economists describe economic production. I was able to achieve considerable output as a graduate student. I […]

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