HICKS: Some types of unemployment signal progress
Structural unemployment is a byproduct of healthy technological progress, and those who can learn new skills flourish.
Economic Analysis
Articles
HICKS: The joke’s really on us with Social Security
If treated as a financial investment, Social Security is a really effective way to destroy wealth.
HICKS: State smoking ban recognizes value of life
The workplace smoking ban signed by Gov. Mitch Daniels this week was a much-needed law. Of course, my Libertarian friends will object to its intrusion on liberty, and my leftist friends will say it didn’t go far enough. To them I ask, “What are you smoking?”
HICKS: Value proposition should drive higher ed debate
Even with higher tuition, college students are still flocking to campus. The real problem isn’t increasing costs, but uncertain benefits.
HICKS: Manufacturing industry is alive and well
America has always been a place where we make things. In fact, 2011 was a record year for manufacturing in America, as will be 2012 and 2013 (all in inflation-adjusted terms).
HICKS: Gas prices likely to influence presidential race
Late last month, our president gave what was billed as an important speech about gas prices. It was that and more.
HICKS: Upcoming election to influence corporate tax cuts
Obama’s plan is to eliminate loopholes for energy companies and create new ones for manufacturing firms. The condition of the 2012 electoral map should make his motivations clear.
HICKS: Imperfect markets influence economic growth
Markets rule supreme, but they also work imperfectly and will do so as long as humans themselves remain imperfect.
HICKS: It’s time for labor unions to make some changes
How is it, I wonder, that an employment contract between willing parties could get to the point where either side is viewed as an enemy?
HICKS: Field research sheds light on Super Bowl impact
My two sons and I headed to Indianapolis’ Super Bowl Village recently for some field research.
HICKS: State of the Union chock full of wistful visions
The bacchanalia of the stimulus has limited spending choices far into the future. So, most of the policies outlined by President Obama are wistful visions of a future that cannot be.
HICKS: Measuring intangibles part of economist’s job
A frequently heard criticism of economic analysis is that it focuses only on those things that can be easily measured. This is an astonishing and vacuous censure championed largely by the innumerate among us.
HICKS: What to expect from right-to-work legislation
It would be a long way from simply naïve to suppose that my study would alter any decisions about the divisive right-to-work legislation pending in Indiana.
HICKS: Job prospects should factor into student loans
College education is expensive (mostly due to foregone earnings), but in terms of expenses, paying tuition for state schools is far less than half the cost of going to college.
HICKS: Predictions can be wrong, but analysis valuable
The new year is a time of reflection. For someone who comments on the economy and provides analysis and forecasts, it should be a time to take stock and be honest about where I was right and wrong.
HICKS: An open letter to an elf from an economist
Last year, you brought me coal; this year, could you fill my pickup truck with gasoline instead?
HICKS: Is U.S. economy example of capitalism or free market?
For some time, I have been unhappy with using the term “capitalism” to describe the ascendant form of economic organization. I prefer “free market” to describe the workings of the United States and much of the world.
HICKS: Monetary policy for our times may involve trade-offs
This week, Charles Evans, president of the Federal Reserve Bank of Chicago and leading contender to replace Ben Bernanke as Fed chairman, visited Muncie to give an important speech on moving the economy past the recession.
HICKS: Black Friday feeds commercialization illusion
Thanksgiving evening into the wee hours of Black Friday saw me visiting three Walmart stores in five hours. This was purely research, mind you.
HICKS: National debt makes long-term challenges clear
We must have a serious discussion over the size and scope of government and how to pay for it. Economically, the answers are clear. We must cut spending, raise revenue and adjust Social Security to the demographic reality.