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Contracted Change

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A generation or two ago, workers were able to count on companies large and small to take care of them. More than just their pay, the working people of America got something critical from their job – security, a promise that the material things in their life were something they could depend on. In return, there was loyalty – and after decades of work, a pension.

There is little doubt that the nature of work is changing. The exact nature of these changes and the magnitude is hard to pin down, but it’s clear that people don’t work the same way they used to. As we contemplate the next version of the economy forming around us as this Depression slowly comes to an end it is more and more clear that the nature of work – and the corresponding social arrangements that come from it – will continue to change.

This is why reform in policy, taxation, and many other fixed arrangements is essential.

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The Future is Theirs

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If you are worried about the future of the US or the world, you need to attend a FIRST Robotics Challenge Competition.  Your worries will dissolve into cheers for the moment and tears for the sheer beauty of kids doing amazing things – challenged and coached appropriately.

This year’s challenge isn’t quite the “hockey with robots” that we are used to.  They have to stack bins and put a heavy container on top of them, a feat that challenges them to power great forces with intricate precision.   It takes strategy, planning, and a lot of learning how to use power saws and drills. But the Great River School team 2491 No Mythic is hitting the challenge with great energy and determination. It’s also a lot of fun.

A study came out that says a little more about letting kids go off and do what might seem dangerous, even at an early age. It seems to fit with what I’ve seen at Robotics League.

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Audit the Fed?

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This is not an ordinary election year in many ways. For one, it’s not really an election year – the actual voting doesn’t happen until 2016. It’s also going to be the first Presidential election without Obama since 2004 as the White House becomes open.

But more importantly, everyone seems to understand that the economy and the politics of this nation are both changing. Stuff is seriously up for grabs.  A desperate cry for attention might make all the difference.

Enter into this a bid for more Congressional oversight of the Federal Reserve, an idea backed by no less than 30 Senators, 3 of which are clearly running for President. It seems like a good idea all around – what can be wrong with more oversight? That depends on what’s being overlooked now, of course, and what can be done with existing law.

Plus, of course, we have the omnipresent Fed itself. Does it need to be reigned in?

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The Expectations Game

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Investment is a tricky thing. You put up a lot of money in the expectation that you’ll have a small return year over year. Currently, the expected rate of return is historically small in the developed world, on the order of a few percent. It has to be weighed against the risk that the initial investment will never be paid back, winding up in default.

The slowdown in the global economy is not actually a decline in output all over the world, but a pause in the rate of growth. It wasn’t expected, either, which is the real problem. The developed world is largely stagnant, save some hope in the US for better times ahead. The developing world need to catch up, but appears to be taking a breather after a tremendous run.

As we consider the next few years and the potential for a genuine boom ahead, it is becoming clearer that we aren’t ready for anything more than muddling through until there is a reckoning and a realization of how the next economy will work – for everyone. That will take some patience and public investment all over the world.

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