Economics

Why it would desirable to incorporate a balanced budget amendment into the U.S. Constitution.

How do people’s ideas on morality affect their economics?

If roads were private the owners would have an incentive to provide capacity, safety, and invent a pricing mechanism that would enable traffic to flow freely.

Artifically low prices resulting from government decree causes an artificial shortage which results in long lines, empty stations, and lack of incentives for more supplies.

Creating paper money does not create goods.

The basic ingredients for Hong Kong’s progress were not foreign aid and other handouts from Western nations but instead law and order and a free market.

When our government subsidizes home purchases, recklessness is invited.

Minimum and maximum prices are but two ways do-gooders handicap poor and discriminated-against people.

One of the great myths about the capitalist system is the presumption that businessmen make profits at the expense of the consumers and workers in society. Nothing could be further from the truth. In the free market, consumers are the sovereign rulers who determine...

Monetary policy is actually putting the hurt on labor. Let’s look at why.

Minimum wage laws reduce employment opportunities for the young and the unskilled of any age.

One myth driving the irrational policies of central planners is the idea that a depreciating currency is good for a domestic economy.

Central planning creates the kind of inefficiency that brought down the Soviet Union. While Americans shopped in malls full of goods, Russians waited in long lines.

Knowing results alone cannot establish whether there is fairness or justice.

Falling consumer prices are good for the consumer and the economy, but they are bad for central banks looking to maintain asset bubbles and for governments looking for a graceful way to renege on their debts.

On October 13th, the 2014 Nobel Prize in Economics was announced in Stockholm, Sweden, with French economist, Jean Tirole, the recipient for his work on developing models to better assist governments in regulating private enterprise. A couple of weeks earlier, Reuters...

There are economists, most notably Nobel Prize-winning economist Paul Krugman, who suggest that the law of demand applies to everything except labor prices (wages) of low-skilled workers.

Editorial demagoguery against “predatory” lending might well be called predatory journalism — taking advantage of other people’s ignorance of economics to score ideological points, and promote still more expansion of government powers that limit the options of poor people especially.