I Predict That In The Years Ahead

The Key Reason Executives Are Paid So Much Now Is That They Appoint The Members Of The Corporate Board That Determines Their Compensation And Control Many Of The Perks That Board Members Count On. So It's Not The Invisible Hand Of The Market That Leads To Those Monumental Executive Incomes; It's The Invisible Handshake In The Boardroom.

Middle-class Societies Don't Emerge Automatically As An Economy Matures, They Have To Be Created Through Political Action.

Whenever You See Some Business Person Quoted Complaining About How He Or She Can't Find Workers With The Necessary Skills, Ask What Wage They're Offering. Almost Always It Turns Out What Said Business Person Really Wants Is Highly (and Expensively) Educated Workers At A Manual-labor Wage. No Wonder They Come Up Short.

The Obama Campaign Seems Dangerously Close To Becoming A Cult Of Personality.

However, The Fact That An Economist Offers A Theoretical Analysis Does Not And Should Not Automatically Command Respect. What Is Needed Is Some Assurance That The Analysis Is Actually Relevant.