Category Archives: Education

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Drama of The “Debt Ceiling”

[T]here’s always the chance that the spectacle of Congress bickering towards a default will cause the market to freak out even though we technically have a couple of weeks left. This is the Clint E…

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Is Gold a Bubble (2011 edition)

Gold had sold for $35 an ounce, then shot up to $675 during the last bubble, peaking in January 1980. (I’m using monthly averages throughout this article.) That’s cool, buying at $25 and selling at…

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How Increasing Worker Productivity Has Led to the “Decline of Manufacturing” as a Share of U.S. GDP

The answer again is productivity growth. The greater efficiency of the manufacturing sector afforded either a slower price increase or an outright decline in the prices of this sector’s goods. As o…

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“Decline of Manufacturing” is Global Phenomenon: And Yet the World Is Much Better Off Because of It

As a share of GDP, manufacturing has declined in most countries since the 1970s. A few examples: Australia’s manufacturing/GDP ratio went from 21.3% in 1970 to 9% in 2009, Brazil’s ratio went fro…

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