I recently read an article talking about the school voucher program and how it would force schools to be more competitive. While I think there is some merit to the school voucher program there is a much more important business lesson here. A school voucher program would mean that parents could send their children to […]
My grandparents legally immigrated to the US from Germany after WWI. With an identified sponsor and a trade, the path to legal immigration was open to them. Today this is not the case, so what is different today? The answer is robust social welfare programs paid for by citizens, who often make more than new
Illegal Immigration is Good Read More »
State lottery games take in about twice as much money if they pay out to the winners in a single lump sum vs. a series of 29 annual payments. Furthermore, the overall odds of winning are not very good: 1 in 259 million for Mega Millions, to quote their website. However, when the jackpot gets
The Lure of Big Money Read More »
Many people, and many businesses for that matter, really do not understand the difference between an asset and a liability. When asked what is your biggest asset most people will say their house. An asset is essentially something that helps put money in your pocket and a liability is something that takes the money out.
One Person’s Liability is Another Person’s Asset Read More »
More than seventy percent of Americans think we should spend more money on education to reduce class sizes. However, report after report indicates that unless a class size is very small, say, five students, there really is no difference in student achievement between a class of ten or a class of thirty. So why do
Do Your Own Analysis Read More »
Ask the average person what made the car affordable and you would hear it was the way Henry Ford used the concept of the division of labor as outlined by Adam Smith in the Wealth of Nations. Most people naturally assume that if you have a job composed of many tasks it is better to
Efficiency Myth BUSTED Read More »
Often the entrepreneur states that a primary reason for starting a business is to make more money. As the old saying goes, “Money does not buy happiness.” One reason this is true is that the simple fact that you have money has not changed anything. It is what you do with the money that can
Making Money is Not Enough Read More »
Do you remember “paint by numbers”? Would it not make more sense to paint by letters since there are 26 letters in the alphabet and only 10 numbers?
The concept of “average” is just not real, except in mathematics. When it comes to marketing, think typical or median: not average.
