Archive

“Dr. Livingstone, I Presume?”

David Livingston was a Scottish missionary and explorer of the Victorian era, now best remembered because of his meeting with Henry Morton Stanley which gave rise to this popular quotation. Having recently had the good fortune to spend two weeks in Southern Africa, South Africa and Zimbabwe, I can appreciate Dr. Livingstone’s lifelong fascination with […]

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“Take This Job and Shove It”

This is the title of a 1977 country music song written by David Allan Coe and popularized by Johnny Paycheck. In January 2017, the number of people quitting their jobs rose to a seasonally-adjusted total of 3.22 million, the highest number since February 2001. The new high in job quitters comes following a number of […]

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Penny Wise Pound Foolish

On Sunday evening, April 9, United Continental caused a passenger to be forcibly removed from a flight between Chicago O’Hare and Louisville, KY. By acting in what appears to have been in full adherence to the appropriate rules, United Continental may have saved some money and transported a flight crew to Louisville in order to […]

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Compromise

According to Wikipedia, compromise is to make a deal between different parties where each party gives up part of their demand. The statement “politics is the art of compromise” is a misquotation of a comment attributed to Chancellor Otto von Bismarck, who actually said, “politics is the art of the possible, the attainable – the art […]

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Wealth Effect?

It is clear that there have been significant increases in U.S. household wealth since the depths of the 2009 financial crisis, largely due to substantial increases in stock market and home valuations.  In the past, large gains in household wealth have stimulated higher levels of consumer spending.  This does not appear to be the case […]

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Export-Import Bank

The Export-Import Bank of the United States (Ex-Im Bank) is the official export credit agency of the U.S. federal government.  Operating as a government corporation, the bank finances and insures foreign purchases of U.S. goods for customers unwilling or unable to accept credit risk. The bank’s cost and effectiveness are controversial, and, like any policy […]

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