Characterized by an upswing or a plunge, the economies that George Bush, Barack Obama, and Donald Trump inherited were different.
Econlife Quiz: The Economics of U.S. Presidential Inaugurations
One week ago, America witnessed the Inauguration of Donald Trump, the 45th President of the United States. From million dollar donors to glitzy ball gowns, no doubt a U.S. Presidential Inauguration has become both a historic and spectacular occasion. The…
John Maynard Keynes and the Generational Impact of Entitlements
Before seeing how we are benefiting unequally from entitlement programs like Social Security and Medicare, let’s start with some history. During 1934, with unemployment high and production low, British economist John Maynard Keynes was reported to have crumpled up a pile of…
Charisma or Glamour Power?
Jackie Kennedy had glamour while Eleanor Roosevelt had charisma. In her blog and soon to be published book, Bloomberg View writer Virginia Postrel describes the difference: Or, as she explains, “Charisma is a personal quality that inspires followers to embrace…
Can Stock Markets Predict Elections?
No one seems to be talking about what really might have led to the Obama win. The stock market. The basic reasoning is that people connect their “social mood” to the incumbent and social mood directly relates to how the…
Election Economics: Comparing Economic Recoveries
Illustrated by this graph from the Minneapolis Federal Reserve, sometimes one orange line can create a huge debate. The thick orange line representing the US recovery from the December 2007-June 2009 recession reflects a tepid ascent next to curves that represent…
Election Economics: The Economics of Foreign Policy
Although tonight’s presidential debate is about foreign policy, perhaps the real focus is the economy. More than 200 years ago, Alexander Hamilton created the connection between economic policy and foreign policy. By funding the Revolutionary War debt, he established public credit and US borrowing…
Election Economics: What To Know For The First Presidential Debate
Presidential debate moderator Jim Lehrer said there would be six 15-minute segments in the first presidential debate on October 3rd. Devoting the entire first half to “the economy,” he will also cover healthcare, the role of government, and “governing.” Like the…
Free or Fair Government?
I live in a town where I have to pay for garbage pick-up and recycling or I can dispose of it myself. The fire department is voluntary. Because there is no local high school, the town pays other school districts…
A Fair Shot?
In its breakdown of this week’s State of the Union, the Washington Post looked at time, topics and the Congress. Time: The President devoted almost half of his speech to the economy, and more than half if you include the…
