Is part of your economic DNA socialist?

We’re all socialists to some degree even if we won’t admit it.  By definition, socialism is a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.  And while almost everyone agrees that state ownership is not desirable, the need to regulate markets has been an accepted part of our economic policies since at least the time of President Theodore Roosevelt.

Wages, wealth, and family welfare

A nation’s wealth is determined by its cumulative productivity. The productivity increases in 2018 determined how much wealthier we were by year’s end. How much of this extra wealth any family can claim is determined by their wage rate. If you’re forced to work for nothing, like federal workers this past month, the increase in your family’s wealth is zero. Thus it’s obvious that wealth which is crucial to retirement and the ability to sustain the family in periods of recession hinges almost exclusively wages and wage growth over time.

Let the Backlash Begin

It took four days for the Republican Caucus in the Arkansas Legislature to recover enough from the shock of the Supreme Court's ruling in Obergefell v. Hodges which gave same-sex couples the right to marry in all 50 states to rally their members into a last ditch effort to keep the status quo of second (or fourth) class citizenship for the  gay members of our community.