One measure of a nation’s involvement in the international economy is the percentage of its gross domestic product exported, where exports are goods and services provided to the rest of the world.
Perhaps a reason the U.S. state-building in Afghanistan failed was because our policy centralized authority under an elected national leader but ignored the crucial role of local leadership.
The U.S. Federal Reserve has a tremendous responsibility to stabilize the value of the U.S. dollar.
While resolving facts might be much easier today, discerning between narratives is likely more difficult.
Last month, the Senate voted for a bill to fund Ukraine, Taiwan and Israel. It passed 70-29.
When asked if “some functionally illiterate students are graduating,” 40% agreed and 47% disagreed.
Some of our colleagues have expressed concern that SB 202 would end all efforts at promoting diversity.
There are numerous conceptions of the middle class
The definition of an amateur has dramatically changed since the 1800s.
Duke professor and behavioral economist Dan Ariely reports that “people cheat more” in this case.
For example, when schools focus on students passing standardized tests, teachers teach to the test rather than focusing on students actually learning the relevant concepts.
One common objection to free trade is that if the United States follows a free-trade policy, foreign nations can subsidize and protect their firms in the most lucrative markets.
The costs of being corrupt are higher when a person is more likely to be caught, and the penalties for corruption are more severe.
Why are people so pessimistic when the economy seems to be doing well? We think a partial answer is “sticker shock.”
Actually, being genuinely humble complements being competitive.
Since 2021, Oregon has decriminalized drug use, but few think the policy is a success.
In 1972, the ordinary citizens of mainland China were overwhelmingly poor and sick.
On the other hand, competition in both product and labor markets is at the heart of a free-enterprise system and is the basis of many of its benefits.
One of the many things we are grateful for is that we have the freedom to access and incorporate new perspectives into our cherished narratives.
It is the world’s largest single-day sporting event, with over 300,000 in attendance.
