Economy

Mark-to-Market Accounting: Shooting Ourselves in the Foot

One of the main causes of the 2008 financial crisis and current recession was subprime mortgages, which are home loans to borrowers with low credit scores, little or no down payment and high levels of…

Optimal Taxation, Economic Growth and Income Inequality in the United States

Up to a point, government spending on public goods - such as national defense and protection of property - can raise the economic growth rate. However, as government spending rises, the tendency is to…

Economic Benefits of the U.S.-Colombia Free Trade Agreement

A free trade agreement commits two or more countries to reduce mutual trade barriers — tariffs, quotas and so forth.  Such agreements give both countries' products an advantage in each other's markets…

Which Is More Important for Women, Capitalism or Democracy?

Capitalism and democracy are both known to improve the well-being of women. But which is more important? The social welfare of both men and women can be measured by health, education and employment, a…

The Economic Benefits of NAFTA to the United States and Mexico

Prior to the 1980s, high import tariffs and quotas characterized Mexico's international trade policy, along with restrictions on foreign investment and ownership.  But following a severe economic cris…

Economic Inequality: Facts, Theory and Significance

The well-documented rise in economic inequality in the United States over the last two decades is somewhat misleading. Almost all Americans, whether considered "rich" or "poor," are better off economi…

Economic Freedom and the Trade-off between Inequality and Growth

One of government's biggest challenges is to develop policies that raise the standard of living in a society without creating large income gaps between the rich and poor. But to a great extent, raisin…

Our Triple Deficits

Economists often refer to the U.S. trade deficit and the federal budget deficit as problems of inadequate domestic saving.  They speak of these deficits “crowding out” domestic investment.  They allud…




 
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