Ken Szulczyk's Website

The Economics of Decline - Entropy

This book studies economies as thermodynamic engines. It recasts the laws of thermodynamics into economic language. It also offers a new framework for understanding growth, instability, and collapse. Among modern economic theories, the ideas of Keynes and Minsky fit naturally into this framework. Minsky explains how an economic engine is driven too hard until it overheats and breaks. Keynes explains why stalled engines often fail to restart without an injection of external energy.

At the center of the analysis lies entropy: the universal tendency toward disorder, inefficiency, and decay. As entropy rises and overwhelms productive work, economic engines lose coordination. Workers grow discouraged. Institutions weaken. Decline begins. These ideas are applied to major episodes in economic history, including the Panic of 1873, the Great Depression, Detroit, California, the Roman Empire, Japan, the Soviet Union, and the United States.

The book concludes by examining the fertility crisis and the unsettling possibility that even human civilization may sink into the quicksand of history.

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Applied Multivariate Statistics with Python

This book offers a practical introduction to modern statistical analysis. It combines clear explanations with hands-on applications. It begins with core topics such as hypothesis testing and key probability distributions, then moves into experimental design and ANOVA techniques. Readers learn how to implement these methods using Python, making the material directly applicable.

The book also covers multiple regression, including model building and common challenges like autocorrelation, heteroscedasticity, and multicollinearity. Advanced topics such as MANOVA, ANCOVA, discriminant analysis, cluster analysis, and logistic regression are presented in an accessible way. It concludes with machine learning and neural networks for predicting both cross-sectional and time-series data.

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The Arduous Path to Enlightenment

As human beings, we often ponder upon our existence on this earth and ask ourselves why we are here. We search for answers through various religions like Hinduism, Buddhism, Christianity, Islam, and Judaism. They share a common theme where God wants us to use all our talents and become closer to Him. We examine methods like fasting, meditation, lucid dreaming, sensory deprivation, and mind-altering drugs such as psychedelics and marijuana to explore our minds and awaken our spirituality. We delve into the deep depths of our minds and psyches to gain greater awareness and uncover hidden aspects of ourselves. Through this journey, we discover our true selves and purpose in life while traversing the path to enlightenment.

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My Journey into the World of Intermittent Fasting

Intermittent fasting is a journey with many twists and turns. Perhaps we are not exploring ancient stone ruins in the jungles of Cambodia, or savoring the exotic flavors of spicy Thai cuisine from the food carts on the streets of Bangkok. However, fasting is a journey to a healthier body. So, I take readers on the journey with me as we explore all aspects of fasting. I teach the reader everything I know about fasting and summarize everything I have read into an easy to follow book. I also give readers 50 tips on fasting, exercise, and nutrition that help them improve their health. Thus, I hope my book can help readers discover the power of intermittent fasting and unlock the doors to a healthy, long life.

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The Rise of the Insane State

Each day when Americans awaken, our laws, rules, and regulations grow and become more complex. Thus, each passing the day, the government becomes bigger and more monstrous. Unfortunately, taxes and incarceration rates rise along with the government’s expansion. However, government cannot continually grow at the expense of the economy. A capitalistic country reaches a breaking point, when the economy starts to break down and stagnates. Then a stagnating economy becomes a dangerous time because government claims that capitalism had failed, and it must take over large sections of the economy, fueling and accelerating the stagnation.

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The Economics of Government

The inspiration for this textbook came from a famous quote by Thomas Jefferson, one of the founding fathers of the United States. He stated, “Whenever the people are well-informed, they can be trusted with their government.” For example, communism failed economically in Russia because the Soviet government controlled every aspect of its markets and economy. On the other hand, the communists control a flourishing China because the Chinese government embraced the ideas of free markets and unleashed the entrepreneurial spirit and drive of the Chinese people. Thus, the Soviet economy stagnated, while China continues to thrive and prosper. The political system itself is not important, but rather the relationship between the government and its society. We study this relationship comprehensively in this textbook.

We dedicate each chapter to a specific aspect of government and its impact on the economy. Students can use this textbook as a first course in public economics or as a supplement to an introductory course in microeconomics or macroeconomics. Furthermore, readers can use this textbook as a reference guide for individuals seeking a comprehensive book on the economics of government without majoring in economics.

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Money, Banking, and International Finance

The 2008 Financial Crisis shook the global economy with aftershocks lasting a decade. New pressures are reshaping the financial landscape, which challenge the U.S. dollar's role as the world’s reserve currency. Recently, the U.S. yield curve remained inverted for two consecutive years (2022–2024); aggressive tariffs were implemented in 2025; debt tokenization is gaining momentum, while government officials discuss weakening the U.S. dollar. Meanwhile, the U.S. government debt has surpassed $37 trillion, and bond investors question its long-term sustainability. We face the looming risks of yield curve control, currency instability, and even a currency reset.

This textbook bridges past lessons with today’s challenges. A cryptocurrency chapter was added to explain how digital assets compete with the traditional financial system, which could disrupt it. The book also examines the potential for Treasury bills to influence money creation through money market mutual funds, money market deposit accounts, and stablecoins, such as Tether.

An experienced instructor wrote this textbook after distilling years of lecture notes into a concise and accessible resource. It is designed for a course in Money & Banking, International Finance, or a hybrid course that combines the two. Additionally, financial analysts and economists will find it a valuable reference guide, providing clear explanations of how governments and central banks influence exchange rates, interest rates, and global capital flows.

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