A major contribution Milton Friedman made to economics was his observation that most people don’t spend as much out of their windfall gains as they do out of increases in income that are more permanent.
Rules that restrict people from engaging in market exchanges are not only unjust—they also reduce wealth.
It is no accident Ball State is targeting older, longer-tenured and higher-paid employees to reduce its costs.
Price ceilings are self-defeating because they short-circuit the very process that mitigates the initial supply disruption.
Businesses are always greedy. Sometimes, greed causes businesses to lower prices; other times, to raise prices.
The primary way billionaires contribute to our well-being is not through their charity or beneficence. Rather, it is by the innovations they typically introduce.
The state should neither mandate employer vaccines nor forbid employers from requiring a COVID vaccine as a condition of employment.
We are very pleased that President Biden plans to reappoint Jerome Powell as chairman of the Federal Reserve Bank. With all the economic uncertainty from the COVID omicron variant, rising inflation, supply-chain struggles and fiscal imbalances, this is not the time to rock the boat at the Fed with a new and untried leader.
When you reduce criminal penalties and stop prosecuting thugs, don’t be surprised when crime soars.
Plymouth Plantation, home of the Pilgrims of Thanksgiving fame, was founded in 1620 under a system of communal property rights. But that system didn’t last long.
The economic principle of revealed preference comes into play: what people do reveals their preferences. In the family’s own estimation, they are better off!
We’re sure the progressives will assure us they are only proposing going after billionaires and other fat cats who are able to pay.
Another benefit of a robust labor market is that it gives employees, even those with few skills, the luxury of moving from one job to another, picking up new skills along the way and likely enhancing their lifetime productivity.
It’s been some 40 years since the United States has experienced significant inflation. However, the phenomenon of an accelerated rise in the general price level is rearing its ugly head.
Conditions today are ripe for another stagflation episode.
Many well-meaning American donor organizations have organized and financed community water projects in poorer nations. Too often these efforts have failed.
What to B&C may be profligate spending on widely-distributed local projects is more appropriately seen as an exercise in distributing the benefits broadly, if imperfectly, among future taxpayers.
Before we get too cocky, we’ll be the first to admit that some of our predictions haven’t quite worked out.
First, let’s all stop vilifying one another. Progressives are not barbarians, conservatives are not oppressors, and classical liberals are not anarchists.
When bond repayments come due, taxpayers in the future must reduce their consumption.
