economics

The two-speed economy is likely to remain in effect. High interest rates (even after some cuts), Medicaid cuts, and other things continue to put downward pressure on lower-income and younger consumers on average. Meanwhile, fiscal spending continues to be aimed at older Americans on average, and wealthy Americans and institutions have generally

Then, starting in the late 1960s, both NASA and the DoD’s budgets fell off.

Here is the DoD budget as a percentage of GDP since 1960:

Demographic Shifts: Changes in population size, age structure, and labor force participation rates influence wage dynamics, productivity, and total output.

Economist Alex Field wrote that by 1941 the U.S. economy was producing 40 percent more output than it had in 1929, with virtually no increase in the total number of hours worked. Everyone simply became staggeringly more productive.

Postan rejected a monetarist explanation of long-term price movements during the Middle Ages and firmly asserted the primacy of the demographic factor (Hilton 1985).

The first and more notable one was the payroll data. Back on August 21st, the BLS revised job numbers downward by 818,000 or about 30% for the 12-month period from April 2023 through March 2024. This is the biggest downward revision since 2009. They still estimate that jobs were created, but 818,000 shy of the previously reported cumulative number

When two closed systems are brought into communication to form a single open system the second law of thermodynamics forces energy to disperse. In Fig. 7, the pressure differential forces water to flow from the full tank into the empty tank. In economics, we would call this arbitrage. Both represent an open systemmoving toward its lowenergy

It made no sense for them to target capital investment at thin-slab casting, positioned as it was in the least-profitable, most price-competitive and commodity-like end of their business.

Capital cycle analysis, however, focuses on supply rather than demand. Supply prospects are far less uncertain than demand, and thus easier to forecast.