Tag Archives: Economics
To become rich, one does not need to be smart, or tough, or caring. One needn’t be honest, principled, or spiritual. Being cultured, humble, or impatient are not requirements either. You can be all of these things, none of these things or some of these things, and become rich. Becoming rich doesn’t even require having a good idea; as one can be born into money, born with fine athleticism, or be taken by the hand of an a rich person…..
I recently watched much of Janet Yellen’s two-day interrogation by congress. She is the head of the Federal Reserve, a position that bestows her with oracular respect when the economy is good and besots her with derisive incompetence when the economy is bad. There was much fulminating by the representatives, our representatives, over a lack of wage growth for typical American in recent years (although the truth of this extends back to the 1980’s) and whether the Fed’s recent low…..