The headline had a dramatic tone — “Economy Hurting Iraq More Than Violence” — but it is probably right in a simplistic way. The underlying story illustrates the immensity of the “nation-building” task the United States faces in Iraq, an…
Arab nations pose riddles for economists
A few weeks ago, when the interim Iraqi government started buying back weapons in the Baghdad neighborhood of Sadr City, the Financial Times and other papers reported that weapons began flowing into that district from elsewhere in the country. Community…
Fiscal policy will stay course
Voters disappointed by the election outcome may seek consolation in the work of Edward Prescott, the 2004 Nobel laureate in economics and former longtime University of Minnesota professor. One of the topics Prescott focused on was the importance of credibility…
Opportunity costs surface in election
Students easily understand opportunity cost. Taking a college course means giving something up. Spending $586 on tuition and $119 on a textbook to take my fall course means giving up something else — clothes, entertainment, recreation or even food. Even…