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The most fundamental thing that occurs in a market economy, no matter how primitive or how sophisticated, is exchange. Centuries ago, beads, shells, shiny pebbles, or deer skins (from which we get the word “buck” as slang for a dollar) were traded for goods or services. more
If a rising tide is supposed to lift all boats, why have we seen worker productivity rise so much faster than wages? From the 1940s through much of the 1970s, productivity growth and wages followed a generally similar pattern. However, since the 1970s, productivity has been increasing faster than compensation, and some use the gap to argue that we need proactive policies to deal with wage stagnation. more
I was readin’ an article the other day about how fat we, as a society, have gotten. Well, it’s all society’s fault. I mean, think about it. We don’t do anything for ourselves anymore. We rely on something to do it for us. OK, let me explain. Now-a-days when you watch TV, you have a remote control. Back when I was a kid, I was the remote control. more
EDITOR’S NOTE: This guest column was written by Suzanne Bardwell, retired Texas teacher and co-publisher of the Gladewater Mirror. more
The other day I was walkin’ into the house, just as my wife Janet was walkin’ out. She had a box in her hands. “What’s in the box?” I asked. “Nothing,” she said. “I was just cleaning out some old junk.” “What junk?” I asked. “Just some old junk. Nothing worth keeping, believe me.” more
A large and growing component of international trade won’t fit in a tanker, container, barge, or crate. In fact, no matter how hard you look, it is nearly impossible to find some of it with your eyes; much of it is lodged in the cranial cavities found between millions of pairs of ears. The United States has long run a trade surplus in the services category, meaning that we as a nation export significantly more services than we import. In addition, the U.S. is the world’s leader in international trade in services, trading substantially more than any other nation. more
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