2. Is the economy improving, decreasing or maintaining?
3. Is inflation an issue in this economy?
4. How has globalization impacted our economy?
5. What trends do you see in the local economy?
6. What trends do you see for the state of Ohio, and USA?
7. Do you think the Federal government should increase the minimum wage?
8. What advice would you give our political leaders to improve our current economy?
9. Who has the biggest impact on the economy? President? Bernanke( The FED) ? Congress? Corporations? Stock market? Consumers?
10. How does education impact our workforce?
11. Is Wal-Mart good for America?
12. Should off shoring/outsourcing be made illegal?
13. Should we worry over social security for the next generation?
14. Where are future job opportunities? How can we create new jobs?
15. Does inflation impact our economy?
16. How does health care impact our economy?
17. How does immigration impact our economy?
18. How should America deal with the energy crisis?
19. As America experiences the deindustrialization, where will future jobs be?
20. Do you have more confidence in the Federal Reverse Bank (Bernanke) or Congress?
21. Are CEO paid too much money in Corporate America?
22. Is their an income inequality in USA? Is that wrong? Or is it justified by one own productivity?1. What impact has technology had on the economy?
2. Is the economy improving, decreasing or maintaining?
3. Is inflation an issue in this economy?
4. How has globalization impacted our economy?
5. What trends do you see in the local economy?
6. What trends do you see for the state of Ohio, and USA?
7. Do you think the Federal government should increase the minimum wage?
8. What advice would you give our political leaders to improve our current economy?
9. Who has the biggest impact on the economy? President? Bernanke( The FED) ? Congress? Corporations? Stock market? Consumers?
10. How does education impact our workforce?
11. Is Wal-Mart good for America?
12. Should off shoring/outsourcing be made illegal?
13. Should we worry over social security for the next generation?
14. Where are future job opportunities? How can we create new jobs?
15. Does inflation impact our economy?
16. How does health care impact our economy?
17. How does immigration impact our economy?
18. How should America deal with the energy crisis?
19. As America experiences the deindustrialization, where will future jobs be?
20. Do you have more confidence in the Federal Reverse Bank (Bernanke) or Congress?
21. Are CEO paid too much money in Corporate America?
22. Is their an income inequality in USA? Is that wrong? Or is it justified by one own productivity?
What impact has technology had on the economy?
Technology has had a very positive effect on the world as a whole. Life spans are increasing and the time/work exchanged for goods and services has never been lower. From the cotton gin to PET scans things are pretty good. As for the impact on the economy what one should look at is the amount of time and work one must spend to purchase. The effect has been and will continue to be very good.
Is the economy improving, decreasing or maintaining?
Taken as a whole, the economy in free societies will always improve. And this one is no different.
Is inflation an issue in this economy?
Most people think that inflation is an increase in the cost of goods and services. While sometimes true, the real cause of our current inflationary cycle is the continued over spending and debt by our government. As government debt soars and interest rates fall, the value of the currency falls. That is why we are seeing huge spikes in foreign goods like oil.
How has globalization impacted our economy?
Certainly it has been very positive for our economy and for the economy of the world of which we are an inextricable part.
What trends do you see in the local economy?
I see our future becoming more linked to a global economy. As information and products can now move more easily, the cost for everyone comes down. We may see a shift locally and nationally away from industrial production. We have already seen huge shifts in employment trends. My grandfather worked in agriculture but thanks to trends in automation and equipment advances many fewer people work on farms. And at the same time, farmers now produce much more food on fewer acres. Yet, no one claims that the hydraulic cylinder stole their jobs.
What trends do you see for the state of Ohio, and USA?
I believe we are more integrated. The local, state, and national trends are one and the same. See question 5.
Do you think the Federal government should increase the minimum wage?
No. It is fundamental to a free society that two parties be allowed to enter into a contract without dictations from a third party.
What advice would you give our political leaders to improve our current economy?
This one is easy. Stay away.
For a more detailed description, see Milton Friedman.
Who has the biggest impact on the economy? President? Bernanke( The FED) ? Congress? Corporations? Stock market? Consumers?
Of course “The Economy” is influenced by all of us. Consumers have a positive impact. By voting with their dollars they force the market to become more efficient. The Executive branch, no matter who is holding it, has little real power to control the free market. Congress through it's myriad regulating capacity has stifled much of the progress of the last 50 years. This has slowed innovation and stalled growth. Since abandoning the gold standard for our currency the Federal Reserve has presided over the near destruction of the dollar. Fiat money cannot hold it's value in a world of rising debt and falling interest rates.
How does education impact our workforce?
An educated populace is a society that will always trend towards more freedom. As education and knowledge increase, the time/work/money to goods and services exchange ratio gets increasingly better. However some jobs are below the standard of an educated work force. I doubt a college professor would be very happy working in a coal mine. That is why there is a perceived “Brain Drain” in some areas of the country. This, I believe, will lessen as more people can now work on projects many miles away.
Is Wal-Mart good for America?
I asked my seven year old daughter this question. Here is her answer. “Wal-Mart is good for everyone because you can buy stuff there. If there was ever a real bad storm and you lost some of your things you could go to Wal-Mart to buy them. And it's good because some people like to work there.” Sounds like a pretty good answer to me. I would only add that they also have pioneered some very good product distribution networks that have lowered the price we all pay for many goods. Many people like to attack Wal-Mart but a lazy mind always sees another person's or company's success as sinister.
Should off shoring/outsourcing be made illegal?
Why would anyone think they can decide with whom I do business? This nationalistic call to end outsourcing is nothing but thinly veiled racism. Some think that if I pay someone in a foreign nation for work or goods received that it somehow has drained a bit wealth from our nation. False. If both parties have agreed under no duress to a contract, both parties are enriched by the exchange of goods. No wealth has moved at all. Someone once said, “A border that is not crossed by trade and goods will be crossed by armies” I'd much rather trade.
Should we worry over social security for the next generation?
Worry? No.
Where are future job opportunities? How can we create new jobs?
It is the very mindset that formulates the “How can we create new jobs?” question that gets us into trouble. When the automatic telephone relay was invented thousands of people were put out of work as telephone operators. Let's just require that all telephone switching be manually done. We can create new jobs by allowing people the freedom to do so.
Does inflation impact our economy?
As our dollar falls relative to other world currencies, the exchange rate of our time/work/money for foreign goods falls.
How does health care impact our economy?
Health care in our current system is flawed and the flaw is not apparent to many. How expensive do you suppose it would be to get a hamburger if it could only be prepared by a person with degree in culinary arts? Medicine is the most regulated industry in the world. No person can provide health services without meeting requirements set down by government. In a truly free society, people should be allowed to contract for any service they choose with whomever they choose. It is no one else's business. Without the regulation from government, health care could be more affordable, and better than it is today. Take the flat screen TV market. It takes a great deal of knowledge and skill to build one. But because of the free market, they constantly get cheaper and better at the same time. The protectionist trade policies in health care prevent this from happening.
How does immigration impact our economy?
Very positively. This land was once home to no man, woman, or child. Every person in America is either an immigrant or a descendant of an immigrant. Today the Mexicans are targeted as the threat. But not long ago in America it was the Irish, the Japanese, the Catholics, and at one time or another, every other race. I am for completely open borders. I fear no aliens.
How should America deal with the energy crisis?
By getting out of the energy business.
As America experiences the deindustrialization, where will future jobs be?
Future jobs will be in unknown industries that evolve through natural market forces. As technologies continue to blur the lines between what we desire, and what we can have, the only limitations will be our imagination.
Do you have more confidence in the Federal Reverse Bank (Bernanke) or Congress?
I have confidence that they will both seek to enrich themselves at the expense of the rest of the people. If buying and selling are controlled by government, the first things to be bought and sold will be the government itself.
Are CEO paid too much money in Corporate America?
The only people who are paid too much are those whose salaries were not fairly negotiated. If both parties agree to the exchange and the contract deemed fair by both parties, I consider it to be fair. A better question would be, “Are economics professors paid too much?”.
Is their an income inequality in USA? Is that wrong? Or is it justified by one own productivity?
See question 21.
I am supposed to ask 3 of my own questions as well.
1.) Do you think either presidential can have a positive impact on our economy? Why?
Both and either can certainly have a negative impact. I doubt very much that either of the two leading candidates will do anything at all positive.
2.) Should oil companies pay higher taxes?
No. All tax rates should be the same for all companies.
3.) How do you think a government based health insurance plan for American would impact the economy?
Ask the Canadians and the British how they like it. It will be a disaster. It will plunge us further into deficit spending which will then cause the dollar to fall even more. It will force rationing of health care and fewer people will receive care. If you want to fix it, remove the regulations on health care.
