John A. Parnell, Ph.D.
The Social Security Administration announced that there would be no annual cost-of-living adjustment (COLA) this year for Social Security recipients because there isn’t any inflation, at least not as calculated by the SSA formula. This is widely presented as a hardship for seniors. As the USA Today put it, “Though prices on paper may have […]
Read MoreI just returned from another trip to Asia. I always see some things firsthand when I’m there. I had two interesting encounters this time. The first was at the national museum in Beijing. The modern history section tells the story from Mao to the present. The shift from Marxism to a mixed approach with some […]
Read MoreI just returned from a trip to China. While there I spoke with students considering coming to the US to study, one of which asked me a great question: The economic systems of the US and China are different, so if I study economics in the US will what I learn be useful when I […]
Read MoreDonald Trump is talking a lot about China. His central claim is that that the Chinese government continues to manipulate the value of its currency, keeping it low and enabling Chinese companies to export their products at lower costs than competitors in the US or other parts of the world. Is he correct? When Trump […]
Read MoreIt’s time to update the crisis in Venezuela. The mass printing of bolivars has led to predictable hyperinflation in recent months. It’s no surprise that President Maduro’s government hasn’t published any inflation or related data since December 2014, when the annual rate officially hit 68%. But there are other ways to skin the proverbial cat. […]
Read MoreChris Matthews recently asked DNC chair Debbie Wasserman Schultz to explain the difference between a Democrat and a Socialist. She wouldn’t answer. As we shall see, the reason why tells us a lot. A Democrat is a member of a particular party, but a socialist can refer to either a party or an ideology. Dominant […]
Read MoreSenator and presidential candidate Rand Paul launched a flat tax proposal last month. It’s received a lot of criticism from all sides. Some has been warranted, but much of it is really designed to mask a deeper problem. Paul proposed a single 14.5% income tax rate with no tax on the first $50,000 of income […]
Read MoreThe size and scope of government has ballooned in Greece. Ordinarily this type of problem would be confined to a single nation, but not when there is a common currency. The problems of Greece affect the entire continent, particularly those in the EU. And what affects the Europe affects the entire world. Investors fear government […]
Read MorePope Francis released an encyclical on climate change a few days ago, among other things condemning business for its “obsession with maximizing profits” and consumers for buying things they don’t need. I’m not a Catholic, but I appreciate the church’s leadership on a number of issues. On this one, the Pope’s dead wrong. What’s most […]
Read MoreSomebody has to pay for the roads and bridges. Ideally, government-maintained infrastructure should be financed through use taxes so everyone pays in accordance with the benefits they receive. A federal and state gas tax regime has been in place for some time, but the federal trust fund is approaching insolvency. Spurred by the decline in […]
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