Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
Written by Gary North on November 26, 2016
When honored by the legal code, the principle of equality before the law always produces economic inequality. In contrast, wealth redistribution by politics must begin with inequality before the law. It is impossible to achieve both forms of equality at the same time because people are unequal in their abilities to satisfy customer demand. Defenders […]
Continue reading →Written by Gary North on September 17, 2016
If you’re not smart by 20, married by 30, or rich by 40, you won’t be. David Graves told me this slogan many years ago, and the more I think about it, the more accurate I think it is. We need milestones as we go through life. It helps if we know whether we are […]
Continue reading →Written by Gary North on June 4, 2016
Here is a headline: This AI expert says that a robot economy will force us to give people unconditional free money. The article is in Business Insider. In the future, giving people unconditional free money might be the fairest way to deal with a robot-powered economy. At least, that’s what data scientist and artificial intelligence […]
Continue reading →Written by Gary North on April 9, 2016
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 […]
Continue reading →Posted on February 13, 2016
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 […]
Continue reading →Written by Gary North on October 24, 2015
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. […]
Continue reading →Written by Gary North on September 12, 2015
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. […]
Continue reading →Written by Gary North on April 18, 2015
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 […]
Continue reading →Posted on April 7, 2015
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 […]
Continue reading →Written by Gary North on February 9, 2015
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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