Are you confused about how Barack Obama thinks about the War on Terror?
Suppose your best friend is down on her luck. Magnanimously, you give her a spare room in your house, on a temporary basis, and when she starts earning some income, you let her pay rent -- say, $100 a week. You would think that just about everybody would applaud you.
If an employer could hire a woman to do the same job as a man for one-fourth less pay, who do you think the employer is going to hire? The woman or the man? Thats a no brainer. Or, a least its a no brainer if employers care anything about making a profit.
Strike up a conversation with any taxi cab driver or any fry cook at a roadside diner and the word inequality is unlikely to ever come up.
Writing about Republicans in U.S. House of Representatives, New York Times columnist Paul Krugman says Paul Ryan is basically, the best con man theyve got. He goes on to characterize the modern Republican Party as a post-policy enterprise, which doesnt do real solutions to real problems.
While politicians seem to never tire of proposing new ways to regulate the workplace, I want to propose a radically different idea: get government out of the workplace altogether.
Until we entered the Great Recession, most economists regarded Keynesian economics as a relic of the past. You could still find it discussed in some introductory textbooks. But, as University of Chicago economist John Cochrane points out, it wasnt on the syllabus in any of the leading graduate schools.
Pope Franciss visit to Cuba and the United States and his previous efforts to bring about a rapprochement between the two countries brings the worlds attention to three facts.
Bernie Sanders is angry. Who is he angry at? Rich people. Why rich people? Thats not clear. At Liberty University, Sanders complained about a small number of people who have huge yachts, and jet planes and tens of billions while others are struggling to feed their families. In Madison Wisconsin, Sanders called for a political revolution against greed.
Stanford University economist Thomas Sowell was asked the other day whether the understanding of basic economics has been elevated in political discussions over time. His answer? Economic literacy hasnt gotten better. Its gotten worse.
Hillary Clinton has a solution to the problem of low wages: Government should make them higher.
First the good news. The federal governments tax receipts are coming in at a rate somewhat higher than what was expected a few months ago.
Last Saturday I made a first-ever visit to the down town Dallas Police Department to fill out a report. I had never been to a police department before. My only image of one was the police station I had seen on the television series Hill Street Blues.
Our health care system and our system of higher education have a lot more in common than you might think. As I explained in a previous column at Forbes, in both systems a third-party payer pays a good portion of the bill, leaving consumers and producers with perverse incentives to take advantage of it.
Its tempting to say that Democrats are liberal. But did you know that the base of the party are not particularly liberal at all?
Jeb Bush is a fan. Ditto for Rand Paul and Marco Rubio. Hillary Clinton isnt so sure. Martin OMalley says it exposes the need to update our labor laws. Everyone is talking about Uber these days. The topic has even become part of the presidential election.
In the old days, before we went to war, Congress had to declare one. In the old days you couldnt kill an enemy combatant unless we were in a declared war. In the old days, an enemy combatant was someone wearing a uniform on a field of battle.
First there was Pablo Escobar, the once notorious head of the Medellin drug cartel in Colombia.
Now that the Supreme Court has declined to gut President Obamas health reform, its time for Republicans in Congress to re-think how they have been responding to the law. They should begin by asking three questions
Pope Francis' recent encyclical on the climate change, Laudato Si, was awful in describing what we know about climate science, dreadful in discussing possible solutions and completely wrong in understanding the role that economics must play.