It's been a light season for hurricanes and tropical storms in North America, and contrary to what many economics "experts" may think, that's a good thing. After all, natural disasters are extremely costly in terms of opportunity costs and capital.
Frédéric Bastiat would have turned 214 today. Although primarily remembered for The Law , Bastiat's book Economic Sophisms , filled with Bastiat's unique wit, and his ability to destroy bad economic theories, is as timely as ever.
We’re often told that CEO pay is outrageously high and that increases in executive pay comes at the expense of worker pay. If we look beyond the few examples used by the pundits, however, we find that these oft-repeated “facts” are anything but.
Economists long ago disproved the idea that if the rich get a bigger slice of pie, everyone else’s slice must be getting smaller. In fact, the data continues to show that inequality and growth are not at odds.