Sunday, May 10, 2015

Saturday, May 17, 2014

John Kenneth Galbraith

"The shortcomings of economics are not original error, but uncorrected obsolescence. The obsolescence has occurred because what is convenient has become sacrosanct." 

John Kenneth Galbraith
Canadian Keynesian economist 1908 - 2006

Tuesday, January 28, 2014

Wednesday, November 06, 2013

Monday, October 28, 2013

Industry comparison: improvement in performance

It has famously been noted that if the automotive industry had achieved similar improvements in performance to the electronics industry in the last 30 years, a Rolls-Royce would cost only $40 and could circle the globe eight times on one gallon of gas with a top speed of 2.4 million miles per hour.
Rolls-Royce 2013
Rolls-Royce 1983