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The New Supply-Siders — Giggers

October 13th, 2016


What is the modern version of “supply-side” economics? The Gig Economy. Firms like Airbnb and Uber stomp on prices by injecting new supply. Airbnb has effectively added almost 20 percent to the supply of hotel rooms in major U.S. cities. Airbnb gives headaches to hotel firms, but wins applause from vacationers and from homeowners who turn their property into income-producing assets. The Gig Economy also gives headaches to government statisticians. Consider: When someone buys a new car, the Department of Commerce calls it “consumption.” But what if the buyer drives off.. || Continue Reading →

Summer Vacation Must-Reads!

August 5th, 2016


I’ve been a fan of the Wall Street Journal for a long time and was delighted they named The Price of Prosperity to the list of “Eight Summer Vacation Must-Reads.” I’m pleased to share advertising space with Daniel Silva and Russell Banks.  

My Favorite Newspaper

July 27th, 2016


The Times of London is now my favorite newspaper.  Christopher Hart’s penetrating review of The Price of Prosperity catapulted the book to #1 on Amazon’s best-seller list for history, business, and political economy.  In addition, the Times found this nifty photo that makes me look like an omnipotent Zen-master.  Or a James Bond villain.  I’m neither.  Here’s what he had to say: Books: The Price of Prosperity: Why Rich Nations Fail and How to Renew Them by Todd G Buchholz Falling birthrates, rising debt, globalisation, decaying work ethic: a tough-minded.. || Continue Reading →

Grappling with the Paradox of Theft

July 18th, 2016


Why are rich countries broke? In Investors Business Daily (and below) I explain “The Paradox of Theft” — As tourists hurry past the National Debt clock near Times Square — which flashes quickly changing numbers topping $19 trillion — many wonder, How can a rich nation like the U.S. owe so much money? I call it the Paradox of Theft. Typically, as a family grows wealthier, it is less likely to fall into deep debt, default and bankruptcy. A family in the top 5 percent of income typically owes half as much as a typical family in the bottom 95 percent.. || Continue Reading →

Brexit — and What’s Next?

July 11th, 2016


What should the Brits do?  Here’s my Bloomberg radio interview.  The EU does not want to make Brexit easy for the UK, because the EU fears that the Danes and Dutch will scamper away next, following the British example.  To dissuade the Danes and Dutch, the EU would like to extract from Britain, if not a pound of flesh, at least a few more pounds sterling of pain.  How should the Brits respond to sluggish EU bureaucrats?  My advice comes in two steps:  First, buy some furniture polish and shine up a big round, royal oak table in Mayfair.   Second, invite the.. || Continue Reading →

Wall Street Journal has Good Taste

July 8th, 2016


The Price of Prosperity received a strong review from the Wall Street Journal.  Former editor George Melloan wrote such lovely things about me that I’ve decided to…renew my subscription!  Here’s an excerpt: “Mr. Buchholz wryly observes that when rich nations begin to shatter, “everyone has a comfy bed—but fewer people have a reason to get out of it.” He cites the rising number of early retirees and a doubling of the number of people who have quit their jobs and filed for disability benefits since 1995. . . . Mr. Buchholz was economic adviser.. || Continue Reading →

Come Back to North America, Great Britain!

June 24th, 2016


Brexit shows how globalization can rip apart alliances.  That’s The Price of Prosperity!  Even though the UK’s economy is growing, an increasing number of Brits resent losing control over their country, amid bigger bureaucracies and waves of immigration.  Polls and betting markets were fooled because closet Brexiteers thought it was impolite to admit their support while dining in polite company.  The Trump campaign should be happy; closet Trumpists don’t talk to pollsters either. For now, traders are pounding pound sterling and attacking stock markets across.. || Continue Reading →

5 Factors that Could Turn America into Another Collapsed Empire

June 9th, 2016


Have you ever met an Ottoman?  Or a Habsburg?  Neither have I.  Where did they go?  Those empires ruled much of Europe, the Middle East and North Africa.  Nations are just as likely to unravel after periods of prosperity as after periods of depression.  In my just-released The Price of Prosperity, I set out the five factors that unravel countries after they become wealthy.  My widely-shared column in MarketWatch has sparked thousands of comments and was widely shared.  What are the factors:  (1) falling birthrates (2) globalized trade (3) rising debt loads (4) eroding.. || Continue Reading →

Where Have All the Babies Gone?

June 6th, 2016


We used to size up a man by counting his children.  Now we count Rolex watches, six-pack abs, and Instagram followers.  Take a look at my essay in TIME.  America has more golf courses than McDonalds.  Really.  The Real Threat of an Aging Population

Why We’ll Never Build Another Golden Gate

May 27th, 2016


When the Golden Gate Bridge opened on May 27, 1937, 200,000 pedestrians strolled and frolicked along its pavement, chomping on 50,000 hot dogs and other treats. In the 1930s it took four years to build this beautiful bridge – while battling fog, rough waters, and the Great Depression. It was completed under budget and ahead of schedule. When no one was willing to finance the bridge, A.P. Giannini, founder of the Bank of Italy, bought up all the bonds. That Bank of Italy grew up to become the Bank of America. It’s a great story, which I tell in New Ideas from Dead Ceos and.. || Continue Reading →