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Economics

  • The Entrepreneur Who Became a Billionaire After Being Rejected by Facebook

    The Entrepreneur Who Became a Billionaire After Being Rejected by Facebook0

    Jan Koum had a rough upbringing. At 16, he immigrated from Europe to the United States with his mother and grandmother, who were fleeing political unrest and religious persecution. Jan’s mother got a job as a babysitter in California while Jan went to school and worked at a grocery store cleaning floors. His father planned

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  • New York Makes Rent Control More Severe

    New York Makes Rent Control More Severe0

    Leaders of New York’s legislature have decided to tighten rent control in New York City. They also will change the law to make it harder for landlords across the state to get rid of tenants who don’t pay their rent, or violate their leases, if those tenants can’t find similar housing in the “same neighborhood.” Economists expect this legislation

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  • The Seven Worst Ideas for Regulation This Century

    The Seven Worst Ideas for Regulation This Century0

    Many good things have happened both in the United States and worldwide this century. In the U.S., we have the lowest unemployment rate in half a century. Worldwide prosperity is growing so fast that the rate of extreme poverty fell by half between 1990 and 2015, five years ahead of the World Bank’s optimistic goal.

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  • What Happens When Everyone Gets a ‘Free’ Lunch? Money Problems

    What Happens When Everyone Gets a ‘Free’ Lunch? Money Problems0

    A yogurt company, Chobani, has picked up the tab for unpaid school lunches in a Rhode Island school district. That’s a relief to the school district, but not one likely to be replicated elsewhere. A new report finds that it would take a whole lot of dairy to fix the waste and misspent money in

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  • Socialism Will Always Destroy Democracy

    Socialism Will Always Destroy Democracy0

    A poll taken in February by Public Opinion Strategies found that a full 77 percent of Democrats felt the country would be “better off” if it were “more socialist.” “Democratic support for socialism appears deep,” Paul Bedard wrote in a piece for the Washington Examiner. “[Eighty] percent of ‘strong Democrats,’” he said, “believe the country

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  • Three Ways Capitalism Makes Workers Better Off

    Three Ways Capitalism Makes Workers Better Off0

    For several generations now, one of the loudest criticisms of capitalism is summed up by dismissively characterizing the working class under free markets as being “free to starve.” For instance, this 2017 Socialist Worker article described Marx’s critique of capitalism as a system in which “workers are free in a ‘double sense’— free to work

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