President Trump is a renegade for a number of reasons, including wishing the haters and losers a Happy Thanksgiving on Twitter. But he has been shockingly consistent throughout his life in his opposition to trade. It’s not that he’s opposed to free trade, he says, but that he wants “fair” trade. He wants to bring American … Continue reading Why We Trade What We Trade
Shohei Ohtani is a twenty-three year old Japanese baseball player. He possesses a fastball that tops 100 MPH and hitting power that promises home runs in bunches. He signed this winter with the Los Angeles Angels after four years of wild success playing as both a pitcher and hitter in Japan. Ohtani plans to play … Continue reading Will the Supposed “Next Babe Ruth” Shohei Ohtani Defy Economics? Probably not.
During the height of the Democratic primary season in 2016, Senator Bernie Sanders made news by lamenting “You don’t necessarily need the choice of 23 underarm spray deodorants or 18 different pairs of sneakers when children are hungry in this county.” Bernie asks an interesting economic question – why do we have so many choices … Continue reading Bernie Sanders is Angry About Deodorant and Sneakers
The Consumer Financial Protection Bureau’s (CFPB) payday lending rule goes into effect next week. The rule has two parts: Payday lenders must “reasonably determine” the borrower’s ability to repay the loan. This includes taking the borrower’s credit history and spending habits into account when making a loan. Payday lenders cannot attempt to withdraw payment from … Continue reading New Payday Loan Rules: Well-Intentioned With Heavy Baggage
Edward Prescott and Finn Kydland won the Nobel Prize in 2004 for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles." In other words, how present-day government decisions don't account for future government decisions.