How we measure wealth, riches, abundance, and well-being is more important today than ever. Topics covered include: How late 18th century philosophers Adam Smith and the Earl of Lauderdale defined wealth and the role of capital. Why they worried about income inequality and excess profits What led to the dramatic increase in life expectancy and wealth in the 20th and 21st centuries How a long life expectancy and well-being can be attained at much lower levels of wealth Why … [Read more...]
323: The Economy Is Not A Machine
How the drive for efficiency leads to greater wealth concentration and threatens capitalism. What can be done about it? Topics covered include: Why income growth has slowed for the middle classWhy the economy now follows a power-law distribution rather than a normal distribution, leading to skewed outcomesWhy the economy is a complex adaptive system rather than a machineHow the type of job you have and the company you work for affects your incomeWhy greater efficiency increases the … [Read more...]
267: How Capitalism Gets Off Track
How inequitable business models like those in the gig economy can lead to a financial crisis, more regulation, and doubts about the viability of the free-market system. In this episode you’ll learn: What is the expanded role of corporations according to leading chief executive officers.What is the gig economy.Takeaways from David's recent experience delivering restaurant meals for Doordash including the huge liability many independent delivery drivers are unaware of.Who covers the … [Read more...]
222: Why We Overpay and How It Contributes To Income Inequality
How asymmetric information, price discrimination and the stories we tell ourselves contribute to artificial profits and income inequality. Photo by Frame Harirak In this episode you’ll learn: What are rents in terms of artificial profits.What is value based pricing?How the stories we tell ourselves influence what we buy and how much pay.Why are companies destroying billions of dollars of their own products Show Notes A Look At Coca-Cola's Advertising Expenses - … [Read more...]
186: Why Do We Pay Taxes?
The seemingly obvious answer is we pay taxes to help fund the government so it can pay for government services. That is correct when it comes to state and local governments as well as for the federal governments of countries that don’t issue their own currency. For countries like the U.S., Japan and the U.K. which issue their own currency the question of why we pay taxes is a little more complicated. Photo by Joanna Kosinska Government Spending Is Digital When the federal government … [Read more...]
177: How Business Contributes To Income Inequality
How high profits and low investment by business in R&D and workers lead to income inequality. Why the current situation is unsustainable and what can be done about it. Photo by Oskar Krawczyk In this episode you’ll learn: Why isn't productivity improving as quickly as in prior decades. Why are profits too high. How does CEO compensation compare to what employee make. Why public shareholders don't actually own the company. What is the level of income inequality in … [Read more...]
168: Is Life More Difficult For Millennials?
How being a millennial is both different and the same from young adults of earlier generations. Image by rawpixel.com In this episode you’ll learn: How do Millennials differ from young adults in earlier generations. How large is the student loan debt burden Why is housing more expensive today. What is the paradox of choice. Show Notes Dollars and Sense LA - Money For the Rest of Us post The Changing Economics and Demographics of Young Adulthood - U.S. Census … [Read more...]
Is the American Dream Dead?
Are private equity buyout activities contributing to income inequality and the death of the American Dream? Photo by Evan-Amos In this episode you'll learn: What is the probability someone will make more than their parents.Do private equity buyout firms help the economy.What have been the returns for private equity buyout funds.How much has income inequality increased?What contributes to upward mobility. Correction In the episode, the statistics shared for the … [Read more...]
68: Why The Middle Class Is Stagnating
How technology and too much free stuff is undermining the middle class. What can be done about it. Photo by J.D. Stein In this episode you'll learn: How technology has made life better and created wealth.How technology has also led to stagnating middle-class wages and increased income inequality.Why too much free stuff also undermines the middle class.How tax policy and personal decisions can help the middle class. Show Notes The Third Wave by Alvin Toffler The Distribution … [Read more...]
