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Cheap debt encourages fiscal irresponsibility—among teenage boys and politicians.

The cell phone replaced all its malefactors by giving consumers a better way of satisfying their wants. Good for consumers, but bad for the producers of outdated products.

It seems to us that much of the conflict over teacher pay is the result of local districts running schools that the state pays for.

Unlike government by despot or militia, institutions of collective choice prize discussion, deliberation, transparency, predictable process, compromise and accommodation.

One of the biggest issues the Indiana Legislature will face in 2020 is what to do about K-12 teacher salaries.

The economic outlook for the United States this year isn’t pretty. But at least the situation looks better here than in most other major nations.

We economists do our best to measure changes in the cost-of-living over time. Yet we suspect that many components are difficult to capture in statistics.

A common misperception is to characterize a free market as one where businesses are “unbridled” and can do “whatever they please” in pursuit of profits.

Good economic policies are predictable. Often, the predictability is more important than the particulars of the policy itself.

Trump’s proposal does little to address the rising tide of national debt.

Politicians often proclaim that certain goods and services such as health care, housing and internet service are human rights.

On March 3, the Federal Reserve cut its interest rate target by half a percentage point in a preemptive move to combat the economic risks caused by the coronavirus. Nevertheless, on March 9, the S&P 500 fell a stunning 7.6%.

Markets responded negatively to both Fed actions in March because the cuts themselves confirmed investors’ worst fears about the coronavirus’s impact on future profitability of American companies.

What we call globalization is nothing new. Long-distance trade is as old as humankind.

The day of reckoning comes when the U.S. Treasury has to choose between paying the interest on its bonds or paying its obligations to its pensioners.