Economics

October 24, 2016

In defense of sweatshops (and proximate justice)

A recent study of Ethiopian workers released last week by the US National Bureau of Economics Research found “sweatshops” were unpleasant, risky, and paid even less than self-employment in the informal sector. Continue Reading...

October 21, 2016

Love Gov and the unintended consequences of ‘good intentions’

Despite the partisan rhetoric that tends to dominate in America, most of us realize that, for all our disagreements, our neighbors often have the best of intentions. But when it comes to public policy, good intentions are not enough to create human flourishing. Continue Reading...

October 20, 2016

Explainer: What did the presidential candidates say about the economy?

Last night Chris Wallace moderated the third and final debate of this presidential season. Many commentators have remarked that it was the most substantial policy debate of the year. But because of the interruptions and recriminations, it can be difficult to ascertain exactly what each candidate was proposing. Continue Reading...

October 18, 2016

Few Americans who work full-time are in poverty

“No one in America should be working 40 hours a week and living below the poverty level,” said Joe Biden last year, “No one. No one.” That’s a sentiment I share with the vice president. Continue Reading...

October 18, 2016

How to read a supply curve

Note: This is the sixth post in a weekly video series on basic microeconomics. Last week we took a deeper look into the demand curve, examining how to read the demand curve, how demand curves shift, and consumer surplus. Continue Reading...

October 10, 2016

The moral consequences of economic growth

In 1820, America’s per capita income averaged $1,980, in today’s dollars. But by 2000, it had increased to $43,000. That economic growth has benefited the rich, of course. But it has also transformed the lives of the poor—and prevented many more from becoming or staying poor. Continue Reading...

October 10, 2016

Why the ‘free market’ economy should be called the ‘initiative-centered’ economy

The term “free market” doesn’t really capture the essence of the economic system that produces prosperity, says Michael Novak. The secret that “liberated more than a half billion of their citizens from poverty” was not mere freedom but private ownership and personal initiative. Continue Reading...

October 05, 2016