My Dearest Wife:
Today I need to tell you some good news and some bad news. I decided to tell you the bad news first because when I tell you the good news you will understand the bad news isn’t all that bad. However, before I start it is best to remember our journey together and what we achieved with our lives as a couple and family.
Who ever thought when I first met you in college we would be married. I needed tutoring in calculus and you were a math major. We both went on from college and achieved our professional goals. You become an actuary and I become an economists. I cannot thank you enough for supporting me while I pursued my PhD in Economics.
We then focused our attention on raising two beautiful children, gave them emotional and financial support to help them achieve their passions. Read More →
While attending college one of my accounting professors asked a simple question pertaining to reporting. How many financial and managerial reports need to be created before they no longer assist in decision making? He then coined the term “information saturation”, the point where producing more information will not affect the decision made. Read More →
Having foreign labor support domestic economies tremendously affects a country’s domestic labor force. The obvious is when a major corporation moves operational services to another country. However, it is not just the major corporation doing this it is every business large and small.
A simple analysis is a web portal odesk.com the world’s largest freelance community of labor services from people all over the world. The extent of services offered covers more than 60 different categories ranging from web design to all forms of business services.
Some people might say this is a good thing. A small business owner can find resources to help his/her business grow Read More →
In international economics there is a product life cycle concept. It basically means innovative products that originate in America will eventually be lost to foreign manufacturing. This is mainly caused by cost differences between countries. The only way for the American economic system to stay healthy is to keep being innovative.
The product life cycle has several stages:
- Create and Sell Product Domestically
- Expand Product to Foreign Markets
- Foreign Markets Growth Supports Local Mfg. & Distribution
- Manufacturing & Distribution Cost Cheaper in Foreign Market Export to America
- American Manufacturing is closed
The same company owned both manufacturing facilities, Read More →