I was recently interviewed by the hosts of Agora: The Podcast. We talked about the political landscape, my own political development over 50 years, and more. Have a listen here.
Mass Production Equals Mass Consumption
[R]elative shares in national income have remained substantially constant over the last hundred years. This, however, is true only if we measure them in money. Measured in real terms, relative shares have substantially changed in favor of the lower income groups. This...