Black Friday has evolved from a single-day shopping event into a month-long marathon of deals, emails, and spending pressure. The result? Millions of consumers experiencing […]
Category: Economics
Understanding Marginal Revenue Product (MRP)
Marginal revenue product (MRP), sometimes referred to as the marginal value product, is a crucial concept in economics that helps determine the additional revenue generated […]
Equality of Opportunity vs Equality of Outcome: The Manufactured “Debate”
Claim: Social safety nets are intended to provide equality of outcome. What really matters is equality of opportunity. Fact: Social safety nets are intended to […]
Free Market Failures
Many have an exaggerated opinion of what markets can achieve. They mistakenly think of markets (and more so, free markets) as some magical force that […]
Does Raising the Minimum Wage Increase Unemployment?
President Obama’s recent proposal to raise the federal minimum wage (from the current $7.25 to $10.10) has rekindled the multi-decade old argument over whether raising the […]
Middle Class America & The Government
It’s not uncommon to hear that “we are losing the America we used to be,” and that we are evolving into this socialist nanny state […]
The Obama Jobs plan vs Republican Jobs Plan
While outright rejecting the American Jobs Act, Republicans claim to have jobs bills of their own–bills which they complain are stuck in the Senate. So […]
Robert Reich: Several Myths about Taxes and Economics
Robert Reich on the 7 biggest lies on taxes, the economy and more. Below is an expansion of what Robert Reich so effectively stated and illustrated in […]
Fannie & Freddie Mac & CRA didn’t cause the Mortgage Crisis
The busting of the housing bubble has been met with much finger-pointing. Advocates of smaller government and an unfettered free market have been quick to […]
Economics: Democratic and Republican
A few years ago, when I first learned that economic history shows that the economy has fared far better under Democratic Presidents, I was stumped. […]