The Birth of the Modern Shark Tank Economy

imagePaula and I are both readers. Except in the case of a movie night or some other exceptions the TV doesn’t get a lot of play time in the Golbabai house. One of those exceptions however is our favorite Friday night tradition: putting the kids to bed and watching Shark Tank over a bowl of ice cream. As an economics blogger, I find the show fascinating because in just a few short minutes it is a perfect microcosm of how our modern economy thinks and rewards. Continue reading

The Local and the Global: Lessons from Detroit

imageIn The Nicomachean Ethics, Aristotle articulates three types of friendship: friendship based on utility, friendship based on pleasure, and perfect friendship based on goodness. When it comes to the relationship between multi-national corporations and local places within the context of the global economy, I cannot help but think Aristotle’s description of friendship based on utility hits it on the head. Continue reading

Questioning a Driverless Future

imageI was in Dallas last week attending the Congress for the New Urbanism’s CNU 23 Conference, turning over the question “how do we build places people love” with professionals as enthusiastic about city design as myself. One concept that kept popping up was that of the driverless car. What bothered me about the surrounding discussion though was this attitude of inevitability regarding our driverless future. No one seemed to be stopping to ask whether such technology actually provides a net benefit to our quality of life. To be sure, such cars may provide several benefits from a possible reduction in traffic fatalities to better mobility for the elderly, disabled and others isolated by our auto-oriented society. But what about the potential pitfalls? Have we considered those? Let me just share a few unanswered questions of mine ranging from the concrete to the philosophical: Continue reading

Store Brands to Cover Bands: The Lost Art of Local Imitation

imageI blame Michael Pollan. Not too long ago my wife and I both read his excellent book, The Omnivore’s Dilemma, and our food consumption hasn’t been the same since. We started thinking more about what we were eating and shopped for foods with simpler ingredients, less processing, and fewer artificial sweeteners and preservatives. One of our favorite new finds was an incredibly delicious loaf of bread with the simplest of ingredients – wheat, yeast, honey, water, and salt – that’s it! It was so good in fact that we initially ignored the $6 price tag as the price of shopping with our values.  As we kept eating and our grocery bill kept growing, however, we started thinking of alternatives. Continue reading