91–100 of 477 posts
Nothing, these charts are just the result of picking the wrong deflator. This chart shows what happens when you use the (correct) GDP deflator: https://worthwhile.typepad.com/.a/6a00d83451688169e20134878d...
Business managed to exploit a number of crises to break the power of labor unions. The gold standard had nothing to do with it: sticking with gold would not force management to share productivity gains with labor.
The author obviously wants you to believe that it was the abandonment of the gold standard, but there are several other theories that have more credence with mainstream economists. The early 70's was the start of a horrible period of stagflation: stagnation coupled with inflation. Some do blame the loss of the gold standard, but the leading theory is the OPEC oil crisis. Others blame market regulations, the EPA was p…
hmmm... dropping energy isn't going to help with the big costs families face in terms of health insurance and costs, day care, college costs, or housing. Am i wrong :)?
The author obviously wants you to believe that it was the abandonment of the gold standard, but there are several other theories that have more credence with mainstream economists. The early 70's was the start of a horrible period of stagflation: stagnation coupled with inflation. Some do blame the loss of the gold standard, but the leading theory is the OPEC oil crisis. Others blame market regulations, the EPA was p…
hmmm... dropping energy isn't going to help with the big costs families face in terms of health insurance and costs, day care, college costs, or housing. Am i wrong :)?
Nothing, these charts are just the result of picking the wrong deflator. This chart shows what happens when you use the (correct) GDP deflator: https://worthwhile.typepad.com/.a/6a00d83451688169e20134878d...
There's definitely still a divergence, starting in .. 1975?
The author obviously wants you to believe that it was the abandonment of the gold standard, but there are several other theories that have more credence with mainstream economists. The early 70's was the start of a horrible period of stagflation: stagnation coupled with inflation. Some do blame the loss of the gold standard, but the leading theory is the OPEC oil crisis. Others blame market regulations, the EPA was p…
People always underestimate the cost of regulations. Even when good, the cost is big. Health care is a good example. Keeping patient data private is a good thing. However it’s also absolutely crushing in its impact in the industry. Tiny projects can take months or years. HIPPA terrifies so many IT people. Driving away top developers.
The inflection point in most of these charts happen after 1971, many closer to 1980.
Looking at economic graphs is hard because it’s laggy. The problems that lead to 2008 were a gradual accumulation through the preceding 10-20 years.
The author obviously wants you to believe that it was the abandonment of the gold standard, but there are several other theories that have more credence with mainstream economists. The early 70's was the start of a horrible period of stagflation: stagnation coupled with inflation. Some do blame the loss of the gold standard, but the leading theory is the OPEC oil crisis. Others blame market regulations, the EPA was p…
People always underestimate the cost of regulations. Even when good, the cost is big. Health care is a good example. Keeping patient data private is a good thing. However it’s also absolutely crushing in its impact in the industry. Tiny projects can take months or years. HIPPA terrifies so many IT people. Driving away top developers.
What do healtcare costs and deaths look like if we removed all our environmental regulations? What's the cost in terms of people not getting treatment for things because they don't want it to be publicly know?
Some of these graphs are laughable and are candidates for "Spurious Correlations" [1]. Childhood obesity is not due to the US getting rid of the gold standard. [1] http://archive.is/9VFmh
It could be related to the increase in both parents working. No mother at home to provide nutritious meals. And both parents working is due to the already explained economic factors.
https://link.springer.com/content/pdf/10.1007/s11150-009-905...