Economic Thoughts About Presidential Relaxation

In the Great Recession (Bush) and the Panic of 1907 (Roosevelt), we saw that the U.S. President need not appear to be running monetary and fiscal policy.

GDP: The Brooklyn Bridge

The story of the Brooklyn Bridge is really about cheap steel. Used to iron that tended to be brittle, 19th century bridge builders had little experience with steel. And yet, the dimensions of the Brooklyn Bridge required what steel could…

The Real Mother of Invention

Saying that profit, not necessity is the mother of invention, economic historian John Steele Gordon starts his column in this week’s Barrons. His focus was the 18th century clipper ships that earned people like John Jacob Astor $50,000 for a single voyage…

Public and Private Incentive

For centuries, the US Postal Service delivered most of the mail. The job it did was satisfactory but not optimal. Yes, through sleet and snow, etc., we received our letters and packages but employees rarely focused on cutting costs and…