JT and I talked about the issue of economic development in Grand Forks on the Jarrod Thomas Show today. Let me preface my remarks with a recognition that economic development is a difficult process, whether we are talking about managing it, reacting to it, hoping for it, or whatever. Development can inherently alter relationships in an economy, and in unpredictable ways. (Note I am not advocating management of economic developing because I think that often creates its own issues but we can discuss that later.)

Continue reading What’s that in the sky?

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My students and I had a good laugh this week about the Apple watch commentary in the press. A great deal of the discussion originated from this Bloomberg article. The general notion from the article is that you will “want one, but not need one.” This got a pretty serious discussion going about a few issues: 1) the state of consumerism in the U.S. (and the world today) and, 2) the effects of disruptive innovations on markets.

Continue reading Apple Watch: Discussions with my students

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The legislative session is in high gear and on March 18th the OMB released what they are calling their March 2015 Revenue Forecast (found here). This is an updated revenue number for the legislators, and I think it comes as no surprise that some of the numbers were down, especially oil. Looking ahead to the 2015-17 biennium the forecast is for a decline in oil revenues by $869,745,374. That is on top of more than $100 million less in the remainder of the current biennium. Does this number seem plausible? Sure.

Continue reading North Dakota Revenue Forecast Comments

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