The adjective Catholic is rarely employed to describe the ideal economy we need. Many would see its use as mere window dressing to make the free market appear a bit more compassionate. Everyone knows that the business of creating wealth comes from industry and business. The accountant’s ledger is the only true … Read more
There is good news in America today. Unemployment is down as the economy is booming. Jobs are available to all. Happy times should be here again. An economy-centered vision of society holds that plentiful jobs automatically lead to happiness. Give everyone a good job, they claim, and it will increase the person’s … Read more
A booming economy should help people make good financial decisions since more money can be directed to other needs. That is why savings rates normally go up as the economy improves. People naturally tend to take advantage of better days especially after bad or slow times. This is not happening now. Many … Read more
Everyone is taught to believe that gigantic retailers are the most efficient distributors of goods to the general public. Small stores may be able to fill tiny niches. They may be quaint and picturesque. However, only the gigantic retailers have the capital and economy of scale to offer everyday lower prices and … Read more
When times are good, families generally have more babies. This is the trend in modern times. Good times generate more good times. The fertility rate of women of all ages goes up. Demand increases and nations enjoy increased prosperity. However, today the scenario is dismally different. The economy is booming as never … Read more
There is an unwritten rule among those who watch the economy. When times are good, families have more babies. Across the board, the fertility rate of women of all ages goes up and the population is replenished. Young populations and prosperity are co-related and desired in healthy economies. However, that is not … Read more
As I watch the debate over tariffs, I can’t help but feel the two sides are not speaking the same language. They are talking apples and oranges. One side is concerned only about money while the other side deals with social impact. I don’t think this apples-and-oranges debate can be reduced to … Read more
With the dramatic rise of bitcoin, many are talking about this crypto-currency as the new money of the future. Such a simplification is understandable, since the matter of money is complex. Not all that glitters is gold. Likewise, what appears to be money often is not. Bitcoin does nothing to clarify the … Read more
As the Christmas season ends, there is a general agreement that the age of malls is coming to a close. Retail sales are no longer dominated by the vast complexes of physical shops anchored by big-box stores once found all over the country. Indeed, malls are no longer delivering the goods to … Read more
Ronald Reagan once said that an economist is someone who sees something happen in practice and wonders if it could work in theory. The new book, Pope Francis and the Caring Society, appears like a team of economists forced to study the encyclical Laudato Si’ in theory and then wonder if it … Read more