American Manufacturing Profits Are the Same After Inflation As In 1960
The manufacturing sector in the United States generates the same inflation-adjusted profits it did in 1960. Surprised? Here is a look at the numbers.
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Lottery Winners Go Bankrupt Just as Often as Non-Lottery Winners
A lot of times, people convince themselves that if “they just had a little more money” they wouldn’t be in the financial dire straits they are. Their bills would be paid. They wouldn’t have financial stress. The problem is, everyone else with any sense in their life is likely thinking, “Yeah, you’ll be right back in this situation in a few years” but no one wants to say it aloud.
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How I Structure My Day
When I come into the office, I begin by sitting down with a white pad of narrow-ruled paper (narrow-ruled, which is smaller than even college-ruled because that is how I like it), and set out everything I want to achieve that day. If I knock off the top 5 things, I consider it a success.
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Mental Model: Veblen Goods
Mental Model: Veblen Goods In today’s installment of our mental models catalog, we are going to discuss Veblen goods, which are a special type of item that would appear, at first glance, to violate the law of supply and demand relationships to prices. Veblen goods are a type of commodity, product or service for which…
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The Secret World of Brooks Brothers
Once you begin to have success, shopping for clothes is a very different experience.
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How to Solve the Trade Deficit
This essay on solving the trade deficit resulted from a letter I received from a reader. From August 31, 2010 through August 10, 2016, it consisted of six independent posts on the site. As part of the transformation of the site to the new, streamlined template, those six posts were combined into a single post.
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Where Do Millionaires Invest Their Cash to Keep It Safe?
Where Do Millionaires Invest Their Cash to Keep It Safe? I’ve been having a conversion about investing and money with the reader “Frat Man” in the comments section of another post. He asked: I also had one other question I have always wondered. Where do millionaires keep their money? In the sense that FDIC insurance…
DetailsMental Model: Social Loafing
Mental Model: Social Loafing If you were starting a project or business, common sense would tell you that you could produce 5x as much output if there were five people working on your goals than if there were just one person. If you are running a counseling program, ten counselors should be able to do…
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We Are All Atheists, Every One of Us
On April 11th, 1823, Thomas Jefferson wrote a letter to John Adams. In the private correspondence, the man generally regarded to be one of the three most brilliant founding fathers confided to his fellow founder and former President, “And the day will come when the mystical generation of Jesus, by the supreme being as his father in the womb of a virgin will be classed with the fable of the generation of Minerva in the brain of Jupiter”.
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The Cult of the Majority (or You Don’t Have a Right to Vote for the President of the United States)
Countless Americans mistakenly believe that the constitution says we are a nation, “of the people, by the people, and for the people”. Though it’s a nice sentiment, many don’t realize that the line came halfway through the nation’s history in the Gettysburg Address by President Lincoln and isn’t part of our constitutional framework at all.
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