For many years, there have been those who have been prognosticating an economic crisis – not just a recession lasting a year or two, but a full-blown Greater Depression that would eclipse any major event we’ve seen in our lifetimes. That may appear to be an overstatement, but historically, it’s […]
Until the 1970’s, most goods consumed by the US were actually made there. Americans were proud of this fact – and rightfully so. Although many items were imported from other countries, the bulk of goods were produced in the US. Hondas and Volkswagens were still referred to as “foreign cars.” […]
In 1776, the Americans had a wonderful new idea for a republic in which each state (a common word for “country” in those days) would exist independently of the others, whilst a federal government would be in place to provide a few additional services, such as the creation of a […]
Periodically, I offer up a statement by Scottish economist Alexander Tytler, who, in 1787, was reported to have commented on the then-new American Republic as follows: A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up […]
Here we have a standard credit card receipt from a coffee shop. The diner understands that he’s not obligated to order anything that he doesn’t want to receive, but that, for whatever he does order, he must pay the price on the menu. This scenario nicely illustrates the concept of […]
by Jeff Thomas International Man In 1776, Thomas Jefferson was asked to create a draft for a founding document for what was to become the United States. In his second paragraph, he said. “We hold these truths to be self-evident, that all men are created equal, that they are endowed by […]