Wikipedia defines Federalism in the U.S. as “the constitutional division of power between the U.S. state governments and the federal government.” Federalism is complicated in practice and has been an area of contention since the beginnings of the U.S. Over time, power has shifted away from the states and toward the national government. While still … Continued
This is the title of a successful 1973 film starring Barbra Streisand and Robert Redford. The movie focused on how a mutual attraction in college changed during and after WW2, giving rise to the fundamental premise that the two were no longer the way they were. Today we are in the middle of a serious … Continued
This question is derived from the British 19th century fairy tale, “Goldilocks and the Three Bears,” and is now very relevant to the concerns of potential travelers. Most leisure travel usually involves one or more nights away from home. As long as consumers are concerned about who will have previously occupied the room they are … Continued
Now that baseball is in a health hiatus, second guessing, also known as, I told you so, 20/20 hindsight, etc., has become the national pastime. The fact that we have a national election in less than six months may have something to do with that. But this blog is not about politics. It is easy … Continued
It is no secret that Congress is currently very polarized and seemingly unable to do much in a truly bipartisan manner. But Congress is made up of politicians, and in the words of Otto von Bismarck, “politics is the art of the possible, the attainable – the art of the next best.” Political polarization is … Continued
Yes, but it is also a country comprising 50 states. States’ rights is a complicated issue, but sufficed to say, state Governors have considerable powers, specifically enumerated in the U.S. Constitution, and do not have to always march in lock step to edicts from Washington. This may prove to be a good thing in assessing … Continued
Much is being written on the potential psychological effects of social isolation. This is not the place for an extensive review of all of the possible impacts of a lack of normal social interaction. However, it is important to recognize that we have evolved to be social creatures. For all of history, people have been … Continued
We have previously discussed proposals by economists and political scientists that would substitute universal basic income (UBI) policies as credible alternatives to existing social programs such as unemployment insurance. (See blogs titled Universal Basic Income, Universal Basic Income Revisited, Universal Basic Income – A Setback?, Universal Basic Income: Now India? and Universal Basic Income for America?). … Continued
No! Yes, the U.S. Treasury is in the process of borrowing $3 trillion to pay for the coronavirus response. It is not surprising that this unprecedented increase in the national debt has given rise to the issue of default. But the short and simple answer is, no, because the government can print money. If you borrow … Continued
“Necessity is the mother of invention” is a proverb that means, roughly, the primary driving force for most new inventions is a need. Now, with the world in the throes of dealing with the health and economic impact of Covid-19, the need for solutions could not be higher. While it is essentially impossible to describe … Continued
Predictive modelling uses statistics to predict outcomes. It is important to recognize that models are only as good as the modeler, who is only as good as the available data. Modelling is essentially an exercise in collecting and combining available information and, to some extent, estimates by the modeler. Some, but not all, of … Continued
According to Wikipedia, a black swan event is a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight. In other words, a black swan event is being blindsided, followed by finger pointing, based on 20/20 hindsight. Black … Continued
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