Economic optimism…in the long term

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By Bill Conerly, Businomics, Conerly Consulting LLC,

Take 20 minutes and watch this wonderful Ted Talk by Alex Tabarrok of George Mason University.  He’s a professor but he speaks English.  Much of what he says will be familiar to those of you who have heard my presentation, Freedom and Prosperity: The Case for Optimism.  Like all Ted Talks, this one is both insightful and crisp–not a single extra word.

My favorite graphic is this picture of world GDP per capita for the last million years or so.  We don’t have exceptionally accurate GDP figures for the caveman era–but we actually know enough about their food and shelter to make a crude estimate.

WorldGrowth

Growth is a fairly recent phenomenon, and despite the recession, its long-term outlook is very good.

— Bill Conerly is principal of Conerly Consulting LLC, chief economist of abcInvesting.com, and was previously Senior Vice President at First Interstate Bank. Bill Conerly writes up-to-date comments on the economy on his blog called “Businomics” and produces a monthly audio magazine available on CD. Conerly is author of “Businomics™: From the Headlines to Your Bottom Line: How to Profit in Any Economic Cycle”, which connects the dots between the economic news and business decisions.