All over America, the middle class is dying and poverty is on the rise. One of the primary reasons for this is the rapidly rising cost of living in the United States. The cost of just about everything that average families shell out money for on a regular basis – food, rent, health insurance, etc. – is rising much faster than wages are. In a previous art... (more)
Tons of people seem (quite rightly) concerned about the Trans Pacific Partnership (TPP) agreement. As we pointed out last week after the final text was finally, released, the agreement has a lot of really big problems. But if you want to understand just how bad the agreement is, perhaps you should just look at the industries that like it. Vox notes that Big Pharma and... (more)
Why won't the American people listen to the warnings? David Stockman was a member of the U.S. House of Representatives from 1977 to 1981, and he served as the Director of the Office of Management and Budget under President Ronald Reagan from 1981 to 1985. These days, he is running a website called "Contra Corner" which I highly recommend that you check out. Stockman believes that a global "debt super-cycle" that has been building for decades is now bursting, and he is convinced that t... (more)
Most economists and investors readily acknowledge that the current period of central bank activism, characterized by extended bouts of quantitative easing and zero percent interest rates, is a newly-blazed trail in economic history. And while these policies strike some as counterintuitive, open-ended, and unimaginably expensive, most express comfort that our extremely educated, data-dependent, central bankers have a pretty good idea as to where the trail is going and how to keep the wagons toget... (more)
This morning, I saw a TV ad for Lasik eye surgery and that got me wondering, “What’s happened to the price of Lasik since I had my procedure 10 years ago?” We hear a lot about the rising cost of healthcare. (By the way, how is that Obamacare working out for you?) But, what about medical procedures that patients pay for themselves? And so I called the ophthalmologist who performed my Lasik operation (with superb results, I might add) to find out the details.
Scarcity of resources exists in many forms and is the problem in economics. If resources were not scarce, there would be no need to economize. The existence of scarcity is true of all resources (such as time, human energy, and natural resources). However, it is not necessarily intuitive that allowing scarce resources to be owned privately is the solution to this problem.
Consequently, socialism appears attractive to many and they turn to having all resources owned collectively for... (more)
This was the most radical statement in the entirety of last night's republican debate, yet the media has completely ignored it.
Ben Carson said he was previously wrong on calling for subsidies for the oil industry to be shifted to ethanol producers, and said instead he now wants to get rid of ALL government subsidies, which would literally be ... (more)
Would you pay $400,000 for a single helmet? Of course you wouldn't – but that is precisely what the U.S. government is doing. Just the helmet for the pilot of the new F-35 Lightning II is going to cost taxpayers nearly half a million dollars. And since we are going to need 2,400 of those helmets, the total bill is going to end up approaching a ... (more)
Rising home prices and apartment rents have been in the news lately, but almost no one is looking at the real causes behind these problems. Instead, they are proposing band-aid solutions that will do little to help most people afford housing but will greatly benefit special interest groups.
According to the news, Boston, Los Angeles, Miami, New York, Portland, San Francisco-Oakland, San Jose, Seattle, and Washington, DC, among other major u... (more)
This morning, the Washington Post ran an article titled, "How free markets make us fatter, poorer and less happy." Actually, the data suggest the exact opposite: free markets make us healthier, richer and happier.
Free markets make us healthier
First, the authors argue that free markets result in an abundance of temptations, such as cand... (more)