For example, when schools focus on students passing standardized tests, teachers teach to the test rather than focusing on students actually learning the relevant concepts.
One common objection to free trade is that if the United States follows a free-trade policy, foreign nations can subsidize and protect their firms in the most lucrative markets.
The costs of being corrupt are higher when a person is more likely to be caught, and the penalties for corruption are more severe.
Why are people so pessimistic when the economy seems to be doing well? We think a partial answer is “sticker shock.”
Actually, being genuinely humble complements being competitive.
Since 2021, Oregon has decriminalized drug use, but few think the policy is a success.
In 1972, the ordinary citizens of mainland China were overwhelmingly poor and sick.
On the other hand, competition in both product and labor markets is at the heart of a free-enterprise system and is the basis of many of its benefits.
One of the many things we are grateful for is that we have the freedom to access and incorporate new perspectives into our cherished narratives.
It is the world’s largest single-day sporting event, with over 300,000 in attendance.
While people usually don’t feel they were treated justly after being “called out loudly,” at times, it is appropriate.
A recent study found that, from 1926 to 2019, holding most U.S. publicly traded common stocks reduced investor wealth.
The vicious circle of violence and revenge between France and Germany was ended by World War II, which killed 15 million soldiers and 38 million civilians.
Claudia Goldin’s research found that childless men and women earn about the same, but having children reduces women’s earnings because they mainly bear the costs of combining work with family and have limited workplace flexibility.
The primary way the Fed tries to maintain low and stable inflation is through the target rate it sets for Fed Funds, which is the interest rate for overnight lending between U.S. banks.
But 45 Indiana cities with a population over 10,000 but under 50,000 in 2020 had more residents than in 1970.
We often look at past practices with disgust, but future generations will probably feel the same about some of our choices.
Economic reality is currently trumping political aspiration in New York City.
Of course, discerning eligibility and benefits for a firm or not-for-profit can be tricky, which is one reason consultants offer their services.
The Constitution’s framers feared large, permanent and professional armies. James Madison wrote, “Armies, and debts, and taxes are the known instruments for bringing the many under the domination of the few.”
