Economics is about incentives. People do things that bring them satisfaction. The incentives can be money or intangible rewards like public recognition or the satisfaction of helping society. Getting people to do dangerous or unpleasant tasks requires greater compensation than…
Terror is “economy of force”
Military tactics and economics are different disciplines, but insights from one can shed light on the other, especially in regard to the recent terrorist attacks in London as well as those in Madrid in 2004 and in New York on…
China’s exports not its only source of dollars
The value of China’s currency relative to the dollar is controversial. Congress threatens China with punitive tariffs if it does not weaken the dollar relative to the yuan. Just how this issue will unfold is uncertain. It is likely, however,…
Africa ills rooted in history
This week’s Live 8 and G-8 events have generated a great deal of comment, but much of it is shallow rhetoric that hurts rather than helps Africa’s poor. Policy debates about how to help that impoverished continent would be more…