Editor’s note: Paul recently sat down with author and professor Ellen Ruppel Shell to discuss her new book, Cheap: The High Cost of Discount Culture. At the heart of Shell’s premise is the idea that our love of discount and … Continue reading
Question: During a recent story about the demise of the auto industry, there was clip of a Model T Ford driving through the Ford Museum. The narration made the point that one of the things that made Henry Ford successful … Continue reading
Editor’s Note: The government reported Wednesday that consumer prices fell in March, indicating a weakened demand for goods and services. But while this price drop raises the specter of deflation, many economists contend that the real risk to the economy … Continue reading
- Can You Explain Why Our Economy Seems to Only Work As Long As We Buy Lots of Cars and Other Consumer Goods?
Question/Comment: Can you help me understand why our economy seems to work only as long as we buy lots of cars and other consumer goods, some of which aren’t really necessities? Isn’t there some other way, at least in theory, … Continue reading
This installment’s “guest vetter” is Martin Neil Baily, now with the Brookings Institution. He was chairman of President Bill Clinton’s Council of Economic Advisors and is a certified VKP (very knowledgeable person). If you wish to be even more suitably … Continue reading