A new WSJ piece describes the current financial landscape for a bunch of people, including myself! We are in tons of debt. Though being in debt is nothing new, the type of debt has changed quite a bit. Most of the debt normal Americans would take on in the past was attributed to housing. But … Continue reading ICYMI: We Are Buying More Than We Can Afford
A central question of economics is to understand how in the heck social coordination is able to exist in such a crazy world. With all our differences in beliefs, resources, abilities, and more, it is remarkable people can work together long enough to produce a Big Mac pretty much anywhere in the world. Economists will … Continue reading Clearly Ambiguous — Institutions
Kevin D. Gomez testifies at Omaha City Council, May 21, 2019.
By Will Hanafan (Creighton University) When President Donald Trump came crashing through the doors of the White House back in 2016, he brought with him a completely new attitude and set of ideas. At the heart of this new attitude towards the country came his notorious mantra, “Make America Great Again”. His campaign and slogan focused … Continue reading Trump’s Tariffs: Does America Win?
One might ask, “But how? Aren’t profits the result of shrewd business deals and wise choices by [greedy] CEOs and shareholders?” “Maybe, but probably not.” Economics is claimed to be married to the principle that people are “profit-maximizing”. I admit that I am guilty of furthering this notion. What I mean is that they behave … Continue reading In a World of Stupid People, Profits Will Still Exist