Economic Debates

Most economic decisions can be debated. We have to decide whether we want higher or lower taxes, where to cut government spending, whether the deficit matters, if a business should have more regulation, if marginal analysis should affect environmental regulation. Learning about economics involves defending policy alternatives.

  • Industries afflicted with Baumol's Disease have slower productivity growth.

    Cheesecake Medicine?

    Aug 7, 12 • 394 Views • No Comments

    Could Cheesecake Factory help us fix our healthcare system? Touring the kitchen of a Cheesecake Factory restaurant, you would see arrival, refrigeration and storage areas, and cutting, mixing, chopping and combining zones. Preparing the 308 dinner choices......  [read more]

  • Obama/Biden and Romney/Ryan Issues

    Election Economics: Assessing Unemployment

    Aug 6, 12 • 394 Views • No Comments

    Let’s look first at unemployment and then at the candidates. 1. Defining unemployment: Our unemployment story starts with the census of 1880.  For the first time, the federal government tried to gauge unemployment by asking all people age 10 or older......  [read more]

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    Remembering Milton Friedman

    Jul 31, 12 • 496 Views • No Comments

    Split down the middle, opinion about the US economy puts private initiative or government first. Those who place individual enterprise first believe most private income belongs to those who generate it. By contrast, government’s advocates see a......  [read more]

  • Obama/Biden and Romney/Ryan Issues

    Election Economics: Assessing the Minimum Wage

    Jul 30, 12 • 448 Views • No Comments

    Currently at $7.25, should the federal hourly minimum wage rise to $9.80? Proposed legislation from House Democrats would increase the minimum wage in three steps, 85 cents a year for 3 years. After that, the amount would move upward with inflation. Advocates......  [read more]

  • The Congress and the Deficit

    Solving Our Economic Problems

    Jul 29, 12 • 381 Views • No Comments

    Having experienced an economic calamity, don’t we just need to figure out how to prevent it from happening again? Yes…but that might be impossible. MIT economist Andrew Lo read 21 books on the financial crisis. 11 were from academics, 10 from......  [read more]