Labor Day & Back-to-School: A Fresh Season for Families
As we head into Labor Day weekend and children return to school, we’re reminded how closely our personal lives connect with the broader economy. Back-to-school season isn’t only about pencils and backpacks—it’s about growth, renewal, and opportunity. For families, this season often means renewed and refreshed routines, investments in education (both money and time), and even a welcome sense of structure. While spending on clothing, supplies, and activities can stretch household budgets, that spending also represents a foundational investment in our children’s future success at school and beyond. For the U.S. economy, these same purchases provide a late-summer boost for [...]
Letter to My Daughters: On Economic Laws
Previously, I’ve written to you about “Intelligent Investment Management” and how we need to be rational and thoughtful as we make investment decisions. One of the areas that investors must consider rationally is political economies, which are the systems people create to organize their interactions in ways that are mutually beneficial. Remember, there are no politics without economics, and there is no economics without politics, so we MUST think in terms of political economies. Much like physical (as in physics) relationships, political-economic relationships are governed by laws that govern how things work and what is possible to achieve. We can [...]