Month: December 2010

[UPDATE: slideshow from memorial service]

Jerry Carl White, 79, died on December 20, 2010, in Beaumont, Texas.

Visitation will be from 5pm to 7pm on December 21 at Broussard’s Mortuary, 2000 McFaddin.

Funeral services will be held at 11am on Wednesday, December 22, 2010, at First Christian Church, 5290 North Caldwood Drive, the Reverend Brenda Warren officiating. Internment will follow at Magnolia Cemetery.

Jerry was born in Beaumont’s Hotel Dieu to Jacob Carl White and Thenoba Gwendolyn Boyett White on May 8, 1931. He graduated from South Park High School, and was vice-president of the first full four-year class at Lamar College of Technology. He married the former Norma Ruth Plettman on September 8, 1963. He was President Emeritus of White Tire Supply, having worked there from the age of eleven. He served on the board of directors of the Texas Tire Dealers Association, the National Institute of Automotive Service Excellence, and the National Tire Dealers and Retreaders Association. He received numerous awards, including the very first Lifetime Achievement Award from the Texas Tire Dealers Association, and was just inducted into the Tire Industry Association’s Hall of Fame. He was an active member of the Beaumont Rotary Club, and a Sunday School teacher and elder at First Christian Church.

Jerry loved learning. He always tinkering and asking questions, often to the confoundment of those he questioned. He had a passion for travel, and he and Norma were always looking forward to their next adventure.

Jerry is survived by his wife, Norma; son Joe Carl White, his wife Anne, and their daughter Kate, of Houston; son David Bruce White, his wife Lauren, and their daughter Rebekah, of Houston; brother Walter White, of Austin; and sister Gwen Kunz, of Houston.

In lieu of flowers, memorial contributions may be directed to Some Other Place, PO Box 843, Beaumont, TX 77704.

By Daniel J. Mitchell

I’m understandably fond of my video exposing the flaws of Keynesian stimulus theory, but I think my former intern has an excellent contribution to the debate with this new 5-minute mini-documentary.

The main insight of the mini-documentary is that Gross Domestic Product (GDP) only measures how national output is allocated between consumption, investment, and government. That’s useful information in many ways, but if we want more output, we should focus on Gross Domestic Income (GDI), which measures how national income is earned.

Focusing on GDI hopefully would lead lawmakers to consider ways of boosting employee compensation, corporate profits, small business income, and other components of national income. Focusing on GDP, by contrast, is misguided since any effort to boost consumption generally leads to less investment. This is why Keynesian policies only redistribute national income, but don’t boost overall output.

You may recognize Hiwa. She narrated a very popular video earlier this year on the nightmare of income-tax complexity.

The Consumer Spending Fallacy behind Keynesian Economics is a post from Cato @ Liberty – Cato Institute Blog

[From The Consumer Spending Fallacy behind Keynesian Economics]