Economics

Why the Minimum Wage Is so Bad for Young Workers 0
- Economics
- January 16, 2020
In today’s political discourse, the minimum wage is frequently mentioned by the more progressive members of Congress. On a basic level, raising the minimum wage appears to be a sympathetic policy for low-income wage earners. Often kept out of the conversation, however, are the downstream effects of this proposal. The consensus among economists has always been that
READ MORE
Why Does New York’s Bureaucracy Cost So Much More Than Florida’s?0
- Economics
- January 14, 2020
New York and Florida have similar populations of 20 million and 21 million, respectively. But state and local governments in New York spent twice as much ($348 billion) as governments in Florida ($177 billion), as discussed here. New York’s excess includes spending more on handouts such as welfare. Another cause of New York’s high spending is
READ MORE
Restricting Trade on Endangered Species Just Makes Things Worse 0
- Economics
- January 13, 2020
Every year humans buy and sell hundreds of millions of wild animals and plants around the world. Much of this commerce is legal, but illegal trade and over-harvesting have driven many species toward extinction. One common response is to adopt bans on trading in threatened or endangered species. But research shows that this approach can
READ MORE

The Magna Carta Offered More Property Protection Than Modern U.S. States 0
- Economics
- January 13, 2020
Eight dollars and 41 cents. About the cost of a Chipotle burrito. That’s how much Uri Rafaeli owed the treasury in Wayne County, Michigan, for property taxes. To get that $8.41, the county took his house and sold it for $24,500 (or about 3,000 burritos.) They kept every penny for themselves. There is a word
READ MORE
Eight Venezuelan Industries Hugo Chavez Nationalized (Besides Oil)0
- Economics
- January 10, 2020
Venezuela has experienced one of the sharpest economic declines in modern history – rampant inflation, near-famine, and an exodus of millions of asylum seekers. Yet there remains disagreement over what caused it. Many refuse to blame socialism, instead citing the collapse of oil prices, corruption, its abandonment of democracy, and other factors. If socialism did play a
READ MORE
How This Teen Entrepreneur Created a Million-Dollar Candy Empire 1
- Economics
- January 9, 2020
Alina Morse is a typical 14-year-old girl in a lot of ways. She goes to high school, likes to dance, and lives with her parents. Did we mention she also runs her own international candy empire? Oh. Well, she does. The story begins with a trip to the bank when Morse was seven. She asked
READ MORE