Good economic policies are predictable. Often, the predictability is more important than the particulars of the policy itself.
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.
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.
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.
One of the biggest issues the Indiana Legislature will face in 2020 is what to do about K-12 teacher salaries.
Unlike government by despot or militia, institutions of collective choice prize discussion, deliberation, transparency, predictable process, compromise and accommodation.
Adjusting a 1902 college bill for inflation, the total comes to $5,954 in today’s dollars. However, another way of looking at college costs paints a somewhat different picture.
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.
Under private property, if you sow and reap 100 bushels of corn—you keep 100 bushels. Under common property, it goes to communal warehouses and you’re lucky to get one bushel.
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 Good for consumers, but bad for the producers of outdated products.
Jeff Korzenik, chief investment officer for Fifth Third Bank, told the audience at IBJ’s 2020 Economic Forecast that employers need to investigate nontraditional sources of workers to offset the weak labor market.
Cheap debt encourages fiscal irresponsibility—among teenage boys and politicians.
The Indianapolis metro area’s growth is expected to be slightly better than statewide averages, but both local and state growth will be lower than the 2% expected nationally, the forecast says.
On Oct. 26, the Treasury Department announced the deficit for fiscal 2019 was $984 billion, a seven-year high and a 28% increase over 2018.
In a national election, the odds of any one individual’s vote changing the outcome is close to nil.
The distinction between stocks and flows is important in economic and business analysis.
The biggest driver of the cost over the four-year period is unrealized lifetime earnings of those who died from the drugs, followed by health care costs.
If a legally sanctioned private arrangement consistently relegates some “workers” to receive compensation that is much less than their marginal revenue product, expect major conflict.
What if Bohanon had been allowed to invest his Social Security payments in common stocks?
The defining characteristic of socialism is collective ownership of property, particularly in productive resources of land, labor and capital.