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5 Vital Economics Lessons Your Kids Won’t Get in School
While some schools are better than other, generally basic economic lessons are absent from public school curriculum. These are vital lessons needed to understand the world around them. Here are just five lessons I wish someone had taught me in school. 1. Prices Why do some things cost more than others? Why does the price…
Is the federal minimum wage really “the third-lowest” of developed nations?
Congressman David Cicilline (D-RI) has been a vocal proponent of raising the minimum wage. He claims the US’s federal minimum wage is “the third-lowest minimum wage of the countries in the OECD.” At first look, he appears correct, but there is more to it. When adjusting for purchasing power parity, the United States federal minimum…
A Defense of Outsourcing: What You Haven’t Considered
Outsourcing — sending manufacturing or services work abroad where it can be done more cheaply — can be a tough sell in the best of times. It’s even more of a challenge when jobs in the U.S. are already hard to find, making it painful to think of precious jobs being shipped overseas. If only…
4 Inconvenient Truths Only John Oliver Has Covered
John Oliver, the British comedian and television personality formerly of Comedy Central’s The Daily Show, is making waves with his new show on HBO. Last Week Tonight with John Oliver has taken the satire news format and brought it to the uncensored, unadulterated land of late night cable television. The results have been hilarious and…
Crypto Currencies: Future of Folly
Bitcoin and other crypto currencies exploded into the world this year. As the value of bitcoin soared, optimists declared we were seeing the beginning of a new world. Realists warned us, however, that it was a bubble, that Bitcoin had no real value. It appears, for now, those skeptics were right, as Bitcoin is currently…
10 Steps to Fix the US Budget
1. Liquidate Unused Property The Federal Government owns more than 77,000 buildings which are currently not being used. Some of them have even been condemned. These properties should be sold at auction or simply bulldozed if they are unsuitable for sale. Basic upkeep on these buildings is costing US taxpayers. Annual Savings to the US…