Enjoying a beautiful display has become 305.8 percent more abundant, growing at a compound annual rate of around 32.3 percent a year. If this trend continues, the 65 inch display in 2026 will cost around 16.77 hours of work. Read More ›
Adam Smith understood this back in 1776. If you want to get rich, have lots of people you can sell to. Large markets also allow people to develop their skills and specialize in such things as drug and software development. Read More ›
If space tourism can innovate as fast as computer technology, we all get to ride. Every flight yields new knowledge. Learning curves reduce costs 20 to 30 percent for each doubling of output. Read More ›
Gale Pooley joined his colleague Marian Tupy to give an annual update on their Simon Abundance Index. Named after University of Maryland economist Julian Simon, the Simon Abundance Index measures the change in abundance of resources over a period of time. Read More ›
With China grabbing all the negative headlines lately, I thought it would be a good idea to step back and look at the big picture, highlighting the great triumphs of this country.
Some of my readers worry that I am “soft” on China, too optimistic about the prospects for freedom there and unwary of the Chinese threat to the U.S.
As one reader recently wrote, “At the end of the day China is still a communist country” that “does not recognize the right to private property” and therefore can steal our intellectual property without any twinge of conscience.
I love this comment because it gets us right to the heart of things: Is China still a communist country?
Not: Does China have lots of politicians who ritually declare themselves communists? (It does.)
Or even a few who deep in their hearts still yearn for the good old days of Mao? (They exist.)
But is China a communist country, a nation of 1.4 billion people living under anything we would recognize as communism?
My answer is: “By their fruits, you shall know them.”
Let me explain… Read More ›
An entire industry – mostly government-funded – has sprung up around the idea of creating entrepreneurs. Don’t buy any of it. Don’t buy college. Don’t buy business incubators. Don’t buy mentors – you probably know more about what it takes to succeed in your business than they do. Start the business. Read More ›