Why Is Eldercare So Expensive?

The costs of caring for the elderly are rapidly increasing, and it is not simply because baby-boomers are aging. The average cost of individual care is much higher than it has ever been. For a clue as to why that might be happening, look to other areas of the economy Continue Reading →

The Human Basis of Technology

Technology is progressing at an amazing pace. Robots and computerized automation are making processes much more efficient and less costly. The benefit is that, as goods and services become more available, prices tend to drop. As a case-in-point, computer prices keep declining even as the capabilities keep multiplying. The standard Continue Reading →

The Paradox of Limited Time

It’s a rat race out there. People are stressed because they are so busy. Many families have two bread-winners, with some having to work multiple jobs just to make ends meet. Parents and children are active in so many activities that there are not enough hours in the day to Continue Reading →

Irrational Fear of Deflation

Central banks are among the most influential organizations in any nation, and most central bankers subscribe to the notion that deflation, the decrease in prices and increase in the purchasing power of money, is bad in every and any circumstance. They try to avoid it at all costs. The cost Continue Reading →

Inflation Versus Productivity Gains

Money is the most important commodity in any advanced society. Because of its characteristics of easy portability, divisibility, durability, and some anticipated value, it is the mediator for transactions of all types. It touches virtually every area of the economy every day. It affects the lives, in some way, of Continue Reading →

The Different Faces of Inflation

Inflation is always and everywhere a monetary phenomenon. That has been acknowledged for a very long time, even by monetary authorities. A general increase in prices cannot occur in a stable or growing economy without an increase in the supply of money. If prices are rising for all or most Continue Reading →