Category Archives: economics

Confessions of a Union Free Rider

“We believe that the American workers employed in the American way are unbeatable”
- Thomas Watson, Jr. to Nikita Khrushchev (The Spokesman, September 22, 1959)
On September 21, 1959, Nikita Khrushchev toured an IBM plant in San Jose, California. In Nikita Khrushchev and the Creation of a Superpower,┬áNikita’s son Sergei remembered how his father wasn’t particularly impressed [...]

Gasoline Prices: The Good, the Bad, and the Ugly

Today crude oil prices turned lower on speculation that the U.K. and U.S. might coordinate a release from of their strategic oil reserves. If true, it is probably motivated by a desire to shake out speculators. (I wrote about this strategy in a previous post here.) In the short-term, it may even tamp down gasoline [...]