China’s agreement with the United States on joining the WTO caused some editorial writers and labor leaders to work themselves into a frenzy of opposition. Letting China in the WTO forces U.S. workers to compete with slave labor some argue.…
Brilliant people, investment by government bring new technology
Why is the U.S. economy doing so well right now? Why are the Dutch so much wealthier than the Portuguese? Why is Japan so much richer than nearby China? Economists have been studying these questions for more than 200 years,…
Coca-Cola needs to master simple lessons about price discrimination
Coca-Cola really blew it recently when it said it developed a new vending machine with a thermometer that will raise prices when the weather is hot. You don’t need an MBA to know that the public is going to look…
Maybe money supply, not inflation, is the real question faced by Fed
Perform the following experiment. Ask five colleagues whether they think the Federal Reserve should raise interest rates. Then ask them whether they think it is a good idea for the Fed to allow the money supply to grow more than…