College Degree No Longer the Solution to Good Jobs

More than 40 percent of recent U.S. college graduates are unemployed, underemployed or need more training to get on a career track, according to a poll released last year by global management consulting firm Accenture. The online survey of 1,050 workers who finished school in the previous two years and 1,010 who received their degree in 2013 also found that many graduates, some heavily in debt because of the cost of their education, say they are in jobs that do not require... Read More

A Culture of Dependency

In most wars a victor is declared. Yet, there is one war that has raged for more than half a century and there is no winner: the war on poverty. It started under the Lyndon Johnson administration with the best intentions. Now 50 years and $20 trillion later, poverty in this nation has actually grown worse. How can the richest nation on earth have 50 million people living in poverty? The answer is that we have substituted a path to employment for a path to dependency. Entitlements... Read More

Economic Fiction

Suppose you sat down at a blackjack table and were dealt the ace and jack of spades. You turn over the cards and proclaim that you’ve got blackjack. But the dealer announces that from now on, the winning hand is 30, and you’ve lost. You’d be mighty confused. So imagine how confusing it is that the gross domestic product (GDP) — the output of goods and services produced by labor and property located in the United States — is running at an annual growth rate of 1.8... Read More