Economics

January 09, 2017

Venezuela is increasing the minimum wage for slave labor

Economists disagree about the effects of raising the minimum wage—but not as much as you might imagine. Almost all of the serious debate is whether an increase of 20 percent or less will have a detrimental or negligible effect on workers and the economy. Continue Reading...

January 06, 2017

National debt is a real threat to America

If President-elect Donald Trump wants to make America great again, he needs to find a way to reduce the federal debt. Samuel Gregg, in a new article at the Stream, explains why this is so important. Continue Reading...

January 05, 2017

Does globalization destroy culture?

Globalization is routinely decried for its disruptive effects, particularly as it relates to local culture and community enterprises and institutions. Even as it’s proven to drive significant economic growth, questions remain about its steamrolling influence on the culture. Continue Reading...

January 04, 2017

Providence, presidents, and the fundamental fallacy of pop economics

When running for president, candidates often makes outlandish promises about how we’ll benefit once they have power. For instance, vice-presidential candidate John Edwards said in 2004 that, “when John Kerry is president people like [quadriplegic actor] Christopher Reeve will get up out of that wheelchair and walk again.” Continue Reading...

December 29, 2016

The end of black conservatism?

On December 27, 2016, at the age of 86, Thomas Sowell published his last column. After publishing dozens of books and hundreds of columns, Dr. Sowell’s retirement may mark the beginning of the end of an era of black intellectuals who were champions of political and economic liberty. Continue Reading...

December 28, 2016

5 victims of the $15 minimum wage

As protests for a $15-per-hour minimum wage continue to rage across the country, cities like Seattle and states like California and New York have already begun to adopt such schemes. Continue Reading...

December 27, 2016

Thomas Sowell’s escape from socialism

Earlier today I mentioned that economist Thomas Sowell was retiring from writing his syndicated column. For decades Sowell, age 86, has been one of the leading thinkers in the libertarian and conservative circles. Continue Reading...

December 20, 2016

Is ‘fair trade’ fair?

Most consumers have heard of fair-trade coffee, but have no idea how fair-trade actually works. In this video, economist Victor Claar covers the basics of the fair-trade model, and explores whether fair trade can deliver on its promises to help the poor. Continue Reading...

December 20, 2016

The economics of Bedford Falls (Part 3 of 3)

[Note: This is the final post in a series highlighting some of the financial aspects and broad economic lessons of Frank Capra’s holiday classic, It’s a Wonderful Life. You can find part one here and part two here.] Continue Reading...

December 19, 2016

The economics of Bedford Falls (Part 2 of 3)

[Note: This is the second post in a series highlighting some of the financial aspects and broad economic lessons of Frank Capra’s holiday classic, It’s a Wonderful Life. You can find part one here.] Continue Reading...

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