The standard belief is that slavery was about obtaining “cheap labor,“ yet nothing could be further from the truth. Slavery comes with high opportunity costs, which is why American slave owners depended upon several government regulations to subsidize their “peculiar institution.”
Politicians have long claimed that states are like big families, and that political regimes rule in ways similar to how parents raise their families. This is nonsense.
Governing elites believe that the fiat money system is the height of “sophisticated” finance. In reality, fiat money sucks the life out of the economy like a vampire.
Jeffrey Miron Many conservatives, and some libertarians, endorse work requirements in social safety net programs. That position is understandable, but it is not convincing overall: Our research examines whether increased EITC [earned income tax credit] generosity reduces the caregiving older adults receive from their EITC-eligible daughters. … Our
Chris Edwards Some American cities are rife with corruption. A key problem is the large volume and complexity of permitting, licensing, and zoning regulations, and the discretion it gives to officials to accept, reject, speed up, or slow down approvals. A scandal in New York City highlights
Norbert Michel, Jennifer J. Schulp, and Nicholas Anthony
Travis Fisher and Joshua Loucks
The last time China hit a recession, in 2008, Beijing dumped massive stimulus into the economy. This time, China's debt — over $50 trillion — has grown to the point it can't afford it.
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