Economics

Why the Current Unemployment Is Worse Than the Great Depression 0
- Economics
- April 24, 2020
The latest report on new unemployment claims was abysmal, coming in at 4.4 million last week, some 100,000 more than surveyed economists had expected. The continuous claims came in at just under 16 million, an all-time record. Mainstream labor economists estimate that, all things considered, the actual unemployment rate now (which is only officially reported
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Why Farmers Are Dumping Milk and Letting Produce Rot 0
- Economics
- April 23, 2020
Many Americans may be surprised and confused to see farmers dumping milk down the drain or letting vegetables rot in their fields. Why would they be destroying food at a time when grocery stores and food pantries struggle to keep pace with surging demand during the coronavirus pandemic? As sociologists with a specialty in agriculture
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Canada’s Government-Run Health Care Buckles Under COVID-19 0
- Economics
- April 16, 2020
In an editorial last week, the Los Angeles Times declared it conventional wisdom that COVID-19 proves Bernie Sanders was right about “Medicare for All,” because with universal health coverage, the government wouldn’t have to send emergency aid to “hospitals and state health programs.” This assertion is completely false, however, and we know because billions in
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Coronavirus Exposes What the Feds Are Doing to American Savings 0
- Economics
- April 14, 2020
During a March 17 address to the nation in response to the COVID-19 outbreak, President Donald Trump asked that Americans work from home, postpone unnecessary travel, and limit social gatherings to no more than 10 people. Ten days later, Trump signed a stimulus package of more than $2 trillion to provide relief to an economy
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The Soviet Union Began as a Democratic Experiment in Socialism 0
- Economics
- April 13, 2020
When Bernie Sanders made his debut on the national stage in 2016, most Americans had never heard of democratic socialism (the idea that the government controls the means of production but we all get to vote). But in the four years following his loss to Hilary Clinton, it’s become a major topic for American politics.
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Crying Over Dumped Milk 0
- Economics
- April 6, 2020
Frustrated shoppers have reason to cry over spilled milk. Dairy farmers are dumping millions of gallons of the stuff. Meanwhile, some dairy products are sold out at many grocery stores across the country, due to intense demand for basic household goods amid the coronavirus crisis. USA Today reports on one farm in Wisconsin: “About 7
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