Love is in the air! I recently married the love of my life. Marriage is not only a great tradition, it is economically effective! Well, in theory. We can now bask in the cost savings of consuming goods together such as a home, car, kids, Netflix accounts, groceries, and so much more! Continue reading “Making Decisions When Married: A Wicksellian Perspective”
Animal spirits are involved in a whole lot of our decision making. The famous economist, John Maynard Keynes knew this all along. Continue reading “Animal Spirits Peer Pressurin’ Keynes”
It is July 4th weekend coming up. Woohoo! Some of you will be traveling and doing some mini vacations somewhere. I don’t know about my plans for the 4th just yet, but I know that I am going to try and head out somewhere. As long as I escape the nation’s capital on the nation’s birthday, I’m game. Continue reading “George Stigler: Information is Power”
Donald Trump, the 45th President of these United States, has spoken emphatically about the factories that are running away from the United States and into the arms of Mexico and China. He said, “I have visited cities and towns across this country where one-third or even half of the manufacturing jobs have been wiped out in the last 20 years.” He believes that the politicians we have elected are responsible for allowing this “disaster” to happen. Factories shut down, leaving cities is a state of disrepair, and utterly destroying the middle class. Continue reading “Sir Arthur Lewis: Progress Always Beats Nostalgia”
The rise of the camera phone has allowed us to capture the world in the form of candid videos more than ever before. We get front row seating to the tensions of racial disparity here in the United States. We also get to watch the Middle East and other regions in the world crash and burn as people die due to warfare, diseases, and hunger. All the while, the clash between globalism and nationalism only seem to make things worse. Continue reading “Gunnar Myrdal: The Moral Economist”
Taxes have always had a negative connotation attached to them. It’s kind of like the government is legally stealing from our wallets. To most Americans, though, paying taxes is part of being a responsible citizen. We’re proud to pay taxes but really confused by them. Continue reading “Death, Errrr, Confused By Taxes”
Negotiation is at the heart of practically everything that goes down in Congress. That said, negotiation is a messy task, in general, and explains why there are a bunch of failed attempts at getting things done in government. Continue reading “Un-Repealing Obamacare: The Un-Romantic Side Of Politics”
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”
Our series on the modern economy ends with what lies ahead: the future economy.
A friend messaged me on Facebook asking, “If I could build my own economic system, what would it look like?” I responded quickly by letting him know I’d send my thoughts to him the next day. Well, two weeks have gone by and I have finally decided to take a stab at this quite daunting challenge.
For the tl;dr folk, surprise, surprise! It’s capitalism. Continue reading “My Ideal Economic Design”