Antibiotics revolutionized medicine, but it is likely that no single antibiotic caused as big of a drop in deaths as a simple over-the-counter medicine that you have probably taken it at some point without appreciating how revolutionary it is. It…
Monthly Archives: April 2016
Are the profits at the bottom of the pyramid enough motivation for research and development of appropriate technologies?
The back cover of C.K. Pralahad’s book, The Fortune at the Bottom of the Pyramid: Eradicating Poverty Through Profits says, One market that’s been overlooked is also the fastest growing market in the world, and it’s where you least expect it:…
Posted in Development
The US federal government owes you $23,871. Really, it does!
Time magazine’s cover is trying to scare economically illiterate people. Time’s reasoning is exactly the same as the absurd reasoning I used to calculate the numbers in the title above. The U.S. federal government owes 56% of its debt to Americans, so the US government would literally…
Posted in Macro, Public Finance
The rules of globalization were written to help elites hide money.
Hernando de Soto believes that economic development and capitalism depends upon formal property rights. He has been advocating for making a clear public record of who owns all real estate and to help entrepreneurs register their ownership of their businesses because millions of…
Hernando de Soto & Property Rights
Hernando de Soto thinks that formal property rights are the key to prosperity and that the government must clearly define and enforce specific private ownership rights. De Soto’s thesis is that government must be efficient at clarifying the legal ownership rights…
Posted in Development, Real Estate
Medianism 