Real World Economics

Website Update Test

Ed Lotterman — Sat, 14 May 2022 18:55:17 +0000

Dear Subscriber, this site has not been updated in some months and we’re preparing to do so now. This is a test to see what subscribers get when we add a new post. Please ignore this email. You can also…

Presidents have much less power over economy than people think

Ed Lotterman — Mon, 21 Sep 2020 01:53:00 +0000

Contrary to what millions of us think, and what politicians would like us to think, U.S. presidents have little influence over our economy and very little direct control. Yet the assumption is that, as the chief justice takes the Bible…

Sewers are needed by fools like me, but only God can make a tree

Ed Lotterman — Sun, 20 May 2018 16:44:04 +0000

Economics is the study of how humans choose to use scarce resources. This may be at the global/national level or for individuals, households and firms. One can see concepts from economics in myriad daily situations — hence the title of…

On technology, productivity and the inter-connectedness of us all

Ed Lotterman — Sun, 13 May 2018 16:42:48 +0000

Growth in productivity isn’t everything, but as an economic barometer, over the long-run, it is far more important than the more-attention-getting short-term fluctuations in unemployment and inflation. Getting more goods and services to meet people’s needs and wants out of…

Practical issues for Minnesota farmers in trade wars are complex

Ed Lotterman — Sun, 06 May 2018 16:41:19 +0000

You have to hand it to the Chinese. Their trade negotiation tactics are complex. Ten days ago with much fanfare they announced required “deposits” equal to 180 percent of the value of sorghum imported from the United States. This was…

Pull Wells Fargo’s charter ‘to encourage the rest’

Ed Lotterman — Sun, 29 Apr 2018 16:39:51 +0000

Dealing with long-term repeat offenders is one of the knottiest problems in criminal justice. Judging by yet another revelation about Wells Fargo’s normal practices toward its customers, it seems to be a knotty problem in banking regulation too. According to…

Government gives, takes. Even when it does not try

Ed Lotterman — Sun, 22 Apr 2018 16:38:28 +0000

The government giveth and the government taketh away but nobody blesseth the name of the government, even when a particular gift is large. And people gripe loudly at every taking away. But such givings and takings are inevitable. I am…

Federal ‘tax reform’ is messy for states

Ed Lotterman — Sun, 15 Apr 2018 16:37:08 +0000

Certain terms drip cynicism. “Surgical airstrike” and “usual, customary and reasonable” fees for medical services are now joined by “tax reform.” Nevertheless, an ill-considered, undebated and error-filled tax bill cutting corporate and personal tax rates did pass Congress and was…

Sewer connection fees are always a messy business

Ed Lotterman — Sun, 08 Apr 2018 16:35:19 +0000

A British adage says “where there’s muck, there’s brass” — with muck being manure and brass being money. That applies to a review by the Met Council of the “sewer availability charge” applied to businesses that expand their facilities or…

Excise taxes are ancient but always topical

Ed Lotterman — Sun, 01 Apr 2018 16:33:47 +0000

Excise taxes are the oldest taxes in human civilization and make up only a small fraction of government revenues in modern economies. But they remain an important issue in certain key policies including highway funding, alcohol use and health financing.…