“It doesn’t have to make sense to the outside observer, because ‘the system’ is not something a single mind designed but the unintended consequence of innumerable individual choices in response to (sometimes badly distorted) incentives.” ~ Art Carden
READ MORE“Success is never guaranteed in a market economy, and business failure is not uncommon for industry leaders. Blockbuster and Kodak had near monopolistic status in their respective sectors but that couldn’t save them from tech innovations that took them down.” ~ Kimberlee Josephson
READ MORE“Interchange fees, long derided as a cost center for vendors that accept credit cards, may serve as a check on hyper-politicized consumer businesses.” ~ Dave Birnbaum
READ MORE“The reduction of the US credit rating is overdue in light of the long and enthusiastic abandonment of fiscal soundness in Washington DC, recently abetted by monetary policy authorities.” ~ Peter C. Earle
READ MORE“At present we continue to believe that the US will enter a recession by September 2024, but will adjust our perspectives if and when necessary as new data and facts become available.” ~ Peter C. Earle
READ MORE“Tipping turns out to be an ingenious mechanism for solving principal-agent problems in a number of service-oriented industries.” ~ Anthony Gill
READ MORE“Replacing rather than embracing shareholder primacy is truly a troubling matter given that shareholder primacy is a means for holding business leaders objectively accountable for the management of strategic investments and business operations.” ~ Kimberlee Josephson
READ MORE“There’s artificial scarcity in housing markets, but in that case it’s the planners themselves who put housing in such short supply – and at consequent high prices.” ~ H. Shelton Weeks and Victor Claar
READ MORE“Regulations such as the Endangered Species Act, wetlands regulations, and coastal zone management laws may have desirable end goals from one point of view, but invariably make housing more expensive.” ~ Craig Richardson
READ MORE“Business leaders must be prepared for congressional hearings more than competitive pressures and entrepreneurial aspirations increasingly require prior approval or must adhere to the scrutiny of external assessment bodies.” ~ Kimberlee Josephson
READ MORE“When a government policy is enacted, it often seeks to change individual behavior. But human beings are clever and will often respond to policy initiatives in ways that either counteract the initial policy’s goals or create new problems in other spheres.” ~ Anthony Gill
READ MORE“The combination of Fed rate hikes and easing demand is clearly having the intended disinflationary effect on the general price level as measured by the various CPIs.” ~ Peter C. Earle
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