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    GDP: I Do Not Think It Means What You Think It Means

    Many decision makers and commentators treat gross domestic product (GDP) as if it measures the whole of the economy. They even use “the economy” and GDP interchangeably. GDP is an accounting device—and a poor measure of economic health. Household wealth is much closer to what we mean by “the economy.” … More

    Thankful for Our Piece of Pie

    He or she is at it again.  An electronic circular,  originating elsewhere at Heritage and signed only “A Conservative,”  marks Thanksgiving by recalling the Pilgrims’ fleeting flirtation with socialism 387 years ago — whilst establishing Plymouth Colony under William Bradford’s leadership. (“A Conservative”  last week e-circulated thoughts on how the Electoral College benefits an … More