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

More Than Employees: What Killed Our Local Economic Independence?

P1000702Over the past couple of weeks, I’ve been following with a kind of morbid fascination our American presidential race. Of particular interest to me is not so much where our two parties disagree, however, but where they in fact agree. Both parties openly acknowledge that the economy is not working as it should for everyone, and both parties have the same prescription: jobs – i.e. better employment options.  On the surface, this sounds great for those of us trying to climb our own respective career ladders or for those trying to get on a career ladder in the first place. And this of course must be a winning theme, because it seems to be the primary domestic issue in every presidential election I can remember. But honestly, this mindset just doesn’t sit right with me, and not just because of the influences of Wendell Berry and Planet Money, but because of our past. Looking back at American history, the concept of economic success as our ability to be employed by others is a fairly recent phenomenon. We were once a nation of small business owners, each of us creating a unique American Dream of our own with self-employment as the cornerstone. Today we’re a nation of employees looking for jobs that provide upward mobility. So what happened? Continue reading