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FIND POSTS BY CATEGORY CATEGORIES The theme of this blog is that innovation, not price competition, is the basis for understanding economic growth, competition, and analysis. And, like many other former college professors, I also digress. I Heard the News Today The Beginning of the Industrial Revolution Basic Concepts and Theory Market Behavior and Structure Market Dynamics and Information:  How Markets Work Economic Theory and Markets Demographics and Economics American Economic History American History Management World War I:  The Beginning of the 20th Century The Roman Republic and America - Differences and Some Possible Parallels Economic and Fiscal Policy Financial Markets and Investment Strategies Foreign Exchange Markets The United States American Foreign Policy and International  Relations Geopolitics and the Global Economy Geopolitics of Oil and Natural Gas Visionaries Humor, Satire, Whimsy I HEARD THE NEWS TODAY Tariffs and America's Economic War wi...

I HEARD THE NEWS TODAY, OY VEY   Reflecting the changing age demographics of America, World Wide Wrestling forms a new subsidiary – World Wide Pickleball.   China’s 400 million senior citizens organize to pressure the government to raise their retirement benefits. The government reluctantly agrees, raising the minimum retirement pension from $25/month to $30/month.   Miami tries to attract tourists by advertising itself as “the Venice of America” and extols its water sports. EGs (electric gondolas) are the main type of transportation.   Mar-a-Lago Resort and Casino features a huge saltwater indoor swimming pool in the former first floor.   Phoenix opens up its latest tourist attraction, called “Death Valley,” where tourists from the north try to survive in extreme heat with limited water. Anyone who fails the survival course gets his money back.   Alaska gives tourists on cruise ships virtual reality glasses after the last glacier melts.   The Grand Ol...

    On domestic policy.  "Ask not what your country can do for you, but what you can do for me.”   On the Republican Party. "It's my party and I'll lie if I want to." “You know the mob makes you pay money, right?” says Trump about a proposed US protection fee for defending Taiwan.   On the global economy. “The sun never sets on my golf courses.”   On foreign relations. “ Ask not what America can do for you; I’ll tell you what you can do for America and how much it will cost.”   On fiscal policy. “Tax cuts for the rich, benefits cuts for the poor.”   On education. "Everything you need to know is on my media company Social Truth." On Europe. "What a bunch of losers. Anyone with any brains or drive emigrated to the United States a long time ago."   On being told his programs will add up to $10 trillion in new national debt over the next four years and $500 billion a year to yearly deficits, he responded, “Not my problem.” On why the Trump family...

Industrial Robots There were 4.3 million industrial robots in 2023. Japan was the world’s largest producer, with about 40-45% of the total.  China remains the largest market, with 276,288 robots installed in 2023, accounting for 51% of global installations. in 2023.  China installed more robots than the rest of the world combined. China’s “robot density,” the number of robots per 100,000 manufacturing workers, is 60% higher than in the U.S. This is more impressive since China's labor force is about four times larger than America's. The technology to produce robots is related to the technology to produce artificial intelligence (AI), sensors, advanced computer chips and applications, telecomm systems, electric vehicles and batteries.  China to Invest 1 Trillion Yuan, about $140 billion, in Robotics and High-Tech Industries.  China’s National People's Congress announced a new venture capital fund. March 25, 2025 —  China’s National Development and Reform Commissi...

  AMERICAN AUTOMOBILE INDUSTRY Tariffs on imported cars should help  American car companies. But it is more complicated. Tariffs on "Mexico" will hit American car companies and their suppliers particular hard. Trump has   threatened to raise tariffs on Canadian car imports in order to "permanently shut down the automobile manufacturing business in Canada." Most of the imported cars from Canada are made by American car manufactures.  Almost half the cars sold in the United States are imports. About 23% of cars sold in America come from Mexico; another 10% come from Canada. Most of them are assembled by American car companies.  About $100 billion in parts and subassemblies cross the border and will have to pay the tariff, in addition to the tariff on completed cars that are imported. Price of cars in America will go up and possibly car sales will go down. American car manufacturers are in poor financial shape and  cannot afford to absorb the cost increases. O...