Economists don't claim that self-interest is a moral good. They simply recognize it's an important part of human nature, and that government and social institutions must be designed for the human beings that actually exist — callous self-interest and all.
The string of spending increases announced daily in Europe disguise an extremely dangerous bet: that the ECB will bail out the eurozone forever.
When entrepreneurs create profit, we know they are using resources in a way that benefit others. When entrepreneurs causes losses, they are destroying wealth.
Elizabeth Warren's wealth tax is based on the idea that the government knows how to use wealth better than the private sector. The plan also ignores that the wealthy have been shown to flee countries with a wealth tax.
Free-market economists don't run the world, and book reviewers at the NYT should stop pretending they do.
In the second half of the twentieth century, pro-union and anti-trade policies led to a Rust Belt that became uncompetitive, costly, and unable to cope with reality. More protectionism won't save the region now.
See what we've accomplished this quarter! We are proud of our students, scholars, and events; and we strive for a higher standard in everything we do. Thank you to our Members who make all of this possible.
Allowing a space on the ballot for "none of the above" would be a step in the right direction toward a slightly less farcical political system.
California is now the most taxed and regulated state in the nation. Not surprisingly, life here is becoming less affordable, and less profitable.
Behavioral economists say that since individuals are irrational, we need more state intervention in the economy. However, their criticism can be turned around: if individuals are irrational, government power is especially dangerous.
