Ragnar Frisch: A Love Affair Between Economics and Statistics

On March 24, 2017, the American Health Care Act (AHCA) was pulled from the floor of the House because it lacked the necessary votes to get it passed. Many have claimed to know the reasons for this failure: from Paul Ryan’s inability to handle Congress, to the Freedom Caucus’ avid opposition to the bill. Though, much of the blame is laid at the feet of the Congressional Budget Office’s analysis of the bill. The CBO examined the lasting impact the bill would have on Americans, if passed, such as the number of insured people, the higher cost of premiums, and the negative effect on the federal budget. Continue reading “Ragnar Frisch: A Love Affair Between Economics and Statistics”

Dilemma: The Segregated Match

In his new book, The Complacent Class, Tyler Cowen re-emphasizes the role of economists in perpetuating pessimism. By connecting a slew of dismal trends backed by hard (and shaky) data, he offers a rationale behind the low levels of productivity, decreased economic mobility and low levels of economic growth. He categorizes the factors that make us seemingly FKD.
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Financial Capital: Moving Up The Ladder In The Modern Economy

Though it doesn’t paint the whole picture, financial capital represents a whole lot of the influence behind economic mobility. The last, and most obvious, installment in our analysis of economic capital’s effect on realizing the American Dream explores financial capital.

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Safety Or Crony: General Motor’s Attempt To Lay Out The Rules

Sometimes, it’s hard to tell if a new regulation is put in place to ensure safety or to make it difficult for competitors to compete in the same market. In the case of Michigan’s unprecedented rules on self-driving vehicles, General Motor’s involvement is not making it any easier. Continue reading “Safety Or Crony: General Motor’s Attempt To Lay Out The Rules”