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The other day I ran into a young man at grocery store. “Hey,” he said. “Are you Rusty Mitchum?” “Depends,” I said. “Do I owe you money?” “No,” he replied. “Well then, that’s me.” “Cool,” he said. “I’ve been wanting to meet you.” “You have? Why?” more
“For his contributions to behavioral economics,” Richard H. Thaler has been awarded this year’s Nobel Prize in Economics (or, more formally, “The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2017”). more
I have come to the conclusion that it might be time for me to change my….my….well, myself. This is not something new, you know. It’s been comin’ for a long time. I’ve just have been tryin’ to ignore it. Now, I know you don’t know what I’m talkin’ about, so true to my nature, I’ll explain it in a long, drawn out fashion. more
The Federal Reserve will begin to trim its nearly $4.5 trillion balance sheet this month, starting the process of reducing assets purchased during the global financial crisis and later quantitative easing to help the U.S. economy recover from the “Great Recession.” It’s been almost a decade, and it is time for the unwinding of these positions to begin. more
Cities across the eastern half of the United States and Canada (including all of the largest in Texas) are jockeying for position and running flat out in the race to attract Amazon’s second headquarters. The winning area’s prize will be enormous: about $5 billion in capital investment and 50,000 jobs with a six-figure average salary. Add to that the positive ripple effects through the economy and the potential to energize related desirable technology businesses, and it’s easy to see the reason for the frenzy. Economic development has not been in the spotlight to this extent since the massive competition for Microelectronics and Computer Technology Corporation in the early 1980s. more
Of anybody you can think of, who would you go to for marital advice? Well, I know who I wouldn’t go to, and that’s me. The reason I’m tellin’ you this is because the other day, a kid asked me to give him some marital advice. Really, I’m not lyin’. Well, he wasn’t really a kid, more like a young man, but he seems like a kid to me. more
Documented and undocumented immigrants are a crucial source of labor, and it is well past time for immigration reform. Moreover, it needs to be framed in a way that addresses the reality of the situation rather than popular myths. In addition to the important human aspect of the issue, there is also a clear economic incentive. more
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