The first of Sheldon’s two appearances on Roderick Long’s Agoric Cafe is now posted. They discuss a variety of issues. Part two will be posted next Sunday.
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...