Would Americans as a whole be better off if the existing Social Security system were partially supplanted by a system of individual accounts? Who would gain, and who would be worse off? How might such a shift affect the national…
Economic indicators are just that–indicators and not precise science
If recent news headlines about the economy seem confusing, don’t worry. The situation is both understandable and normal. Two weeks ago, many economic gurus quoted by the media predicted that the government would show no economic growth for the first…
“Big box” retailers demonstrating capitalism’s creative destruction
Our house is 101 years old, and leaks in the original galvanized iron water piping have ruined ceiling plaster twice recently, so I am replacing all of the original water pipes with new copper. This extended effort gives me plenty…
Foreign trade sanctions, embargoes bring minimal change to U.S. economy
“How would the economy be affected if relations between the U.S. and China deteriorated badly?” One of my students posed that question when U.S. crewmembers were still detained in China. It had nothing to do with the course material at…