Such an economically closed welfare state on steroids is a recipe for stagnation, massive underemployment and unemployment and a prescription for expanding the rolls of the welfare state.
Alcoa and others made tons of money by finding mass-market uses for cheap aluminum, such as tea kettles. Napoleon III flaunted his pricey aluminum. It took capitalism to put it on the household stove.
British voters understood full well that Brexit would likely make them poorer, but they voted for it, anyway, because they were “buying” other things.
Mass transit in central Indiana once was a thriving private-sector business. Before about 1930, the Indianapolis Traction and Terminal Co. profitably operated electric streetcars throughout the city.
Recent reports indicate that the U.S. trade deficit was $500 billion in 2015. Sounds ominous and cataclysmic, but a look behind the number is revealing.
the rich of the world should refrain from giving advice to poor nations as to how they get their electricity.
In the wake of the May employment report, Labor Secretary Thomas Perez tried to make the best of a report that wasn’t just bad; it was dismal.
A modest proposal: Pass a law outlawing everything patented after 1900. Think of the marvelous effects the law would have on supply and demand almost overnight.
The workplace of the future will not be a specific location. It will more and more be wherever people find ways to temporarily interact.
The Environmental Protection Agency has since morphed and grown since it was created in 1970. We study bureaucracies. It’s a pretty good rule of thumb that bureaucracies tend to grow.
One particularly bad idea just floated by members of the House of Representatives is to raid the endowments of rich colleges.
Through the fund, managed by the Purdue Research Foundation, students pay back a set percentage of their salary over a term of nine years or less.
Yes, most health insurance plans protect against large insurable events. The kicker is that most health insurance plans also cover the equivalent of oil changes.
The corporate form of organization is an innovation that made modern life possible.
When we vote for someone, we vote for a whole bundle of positions, predilections and philosophies.
Sometimes, prices are intentionally not used to allocate resources. The H1-B visa program is an example. But that doesn’t mean we couldn’t use prices to ration these visas.
Each month, markets and media await the Labor Department’s monthly jobs report. And each month, the headline misses 90 percent of what’s really happening on the jobs front.
Social Security will inevitably be changed from an insurance program to a simple welfare program designed to transfer wealth from high earners to low earners in retirement.
It’s natural to think it’s bad to buy more from foreigners than they buy from us.
Tariffs provoke retaliation. Pretty soon you’re in a trade war. The objective of protecting American jobs winds up costing many times more jobs than the ones you set out to protect.
