John Langenderfer articles

Foundations of Economics Series: Every Man for Himself

Foundations of Economics Series: Every Man for Himself

As previously discussed in this Foundations of Economics series, economic competition is the process of establishing who produces what in our division of labor economy. Through economic competition, millions of individuals decide in commercial transactions who best utilize our limited resources to produce wealth and the best process for producing that wealth. In other words,

Foundations of Economics: It’s Not a Jungle Out There

As we have examined in Part 2 of this Foundations of Economics series, in a division of labor economy we each focus on producing one or a few things while depending on everyone else to produce the majority of things we need and want.  The obvious question arises, then, of who should produce what?  A

The State of Ohio’s Economic Problems, Pt. 2

[Editor’s note: Read Part 1 here.] Ohio’s recent financial problems have been a consequence of our leaders blindly reacting to the booms and busts of the past several decades without an understanding of business cycles. In the chart below, Ohio is shown to have experienced the same pattern in the rise and fall of tax

The State of Ohio’s Economic Problems, Pt. 1

There has been much talk recently of an economic comeback in Ohio since the 2008 financial crisis. Ohio was notably hit hard by the economic downturn. Now we constantly hear about Ohio’s rising tax revenues, a Budget Stabilization Fund balance of over $1 billion, and a slowly falling unemployment rate. In fact, a recent study

The Janet Yellen/Robert Shiller Hype Is About Controlling You

Much like Janet Yellen (President Obama’s nominee for the Chair of the Federal Reserve), who is roundly and wrongly praised for her allegedly uncanny ability to make accurate predictions about the U.S. economy [read OCR’s 10/9/13 and 10/11/13 articles], Nobel Prize-winning economist Robert Shiller has attracted much hype based on his earth-shattering observation of the obvious early

FOLLOW-UP: Nobody Is Qualified To Be the Next Fed Chair

As expected, the hype over Janet Yellen’s qualifications as Fed Chair swells with every passing moment.  This hype grows despite that she had no idea that the 2008 financial crisis was coming [read on OCR: “Janet Yellen Will Consume Our Economy with Fireballs from Her Eyes”].  Ben Bernanke didn’t see the crisis coming either (see