Latest Posts

June 29, 2017

How God makes a smartphone

“Everybody has a cell phone,” Steve Jobs told John Lasseter, chief creative officer at Pixar, “but I don’t know one person who likes their cell phone.” The frustrated CEO of Apple decided to do something about the problem, which lead to one of the greatest products of the modern age. Continue Reading...
June 28, 2017

Understanding the President’s Cabinet: OMB Director

Note: This is the post #22 in a weekly series of explanatory posts on the officials and agencies included in the President’s Cabinet. See the series introduction here.   Cabinet position: Director of the Office of Management and Budget Department:  Office of Management and Budget (OMB) Current Director: Mick Mulvaney Department Mission: “The Office of Management and Budget (OMB) serves the President of the United States in overseeing the implementation of his vision across the Executive Branch. Continue Reading...
June 28, 2017

Why Seattle’s minimum wage law is now destroying wages

“The city of Seattle has the highest minimum wage in the United States,” notes Dylan Pahman in this week’s Acton Commentary. “While economists and policy-makers continue to debate the issue, a recent working paper from researchers at the University of Washington (UW) raises serious questions about the effectiveness of minimum wage hikes.” Continue Reading...
June 27, 2017

Neamtu: Choose the ‘Soros infantry’ or Tocqueville’s vision

George Soros is synonymous with a well-funded, highly partisan brand of “philanthropy,” which begs the question: Why are U.S. taxpayers underwriting it? During the Obama administration, USAID granted Soros’ Foundation Open Society-Macedonia (FOSM) and its counterparts $4.8 million, earmarking an additional $9.5 million through 2021. Continue Reading...
June 27, 2017

Bees, Pollination, and the Coase Theorem

Note: This is post #39 in a weekly video series on basic microeconomics. In this video by Marginal Revolution University, economist Alex Tabarrok shows how bees and pollination demonstrate the Coase Theorem in action: when transaction costs are low and property rights are clearly defined, private arrangements ensure that the market works even when there are externalities. Continue Reading...