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In the long run, rising inequality is likely to hurt everyone, owners and laborers alike.
None of this looks very reassuring right now, yet in the long run, rising bond yields and an end to the Fed's unconventional policies could be very good news.
"On the other hand, it indicates that policies that help limiting or – ideally – reversing the long-run rise in inequality would not only make societies less unfair, but also richer".
But an upward trend has clearly not translated into global famine, and not all commodities are alike.In this section Till default do us part Bench press Outlook: cloudy Out of favour Bull marketing The people v Hank The anointed Shocks and ores ReprintsLong-run rises have been most pronounced for commodities that are "in the ground", like minerals and natural gas.
In addition, a survey by the Royal Society of Arts suggests that the self-employed are happier than those in paid employment independence counts for a lot, as does the feeling that one's work has meaning.In the long run, this rise in self-employment will raise some interesting macroeconomic and political questions.
"It could, in the long run, give rise to one or several very robust currencies," he says.
In the long run, the rise of an alternative like Linux will limit Microsoft's future growth and market dominance.
"Maybe in the long run, the rise of oil and gas prices could be an incentive to use green methods such as this one". But the project has already generated a lot of interest and could well provide one of the future ways to limit our gas-guzzling.
Tyler Cowen at Marginal Revolution adds his two bits: First, the very active role of the Fed in the Bear Stearns crisis must, in the long run, give rise to a fundamental revaluation of the role and powers of the SEC, the entity technically responsible for investment banks.
But then the issue faded from view: a few years of good data led many people to conclude that H.M.O.'s and other innovations had ended the long run of rising medical costs.
Restoring that balance will help keep property tax rates in the long run from rising to make up for the shortage of commercial tax revenue, easing the pressure on homeowners, Cristol said.
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