Let's work through an example. Suppose 100 yards of fence could be built using one of two techniques. You could hire three low-skilled workers for $15 each, or you could hire one high-skilled worker for $40. Either way, you get the same 100 yards of fence built. If you sought maximum profits, which production technique would you employ? I'm guessing that you'd hire one high-skilled worker and pay him $40 rather than hire three low-skilled workers for $15 each. Your labor costs would be $40 rather than $45.
Tufts University, a private school in Massachusetts, has now officially ceased to be a university. Tufts has a national reputation for heavy handed suppression of free speech despite its close proximity to places where many of our nation's first great free speech victories were fought and won.
Under fire in court for allegations that he discriminated against Hispanics, Sheriff Joe Arpaio faces some choice words from Latino groups.
One of the more difficult lessons to teach economics neophytes -- and, many times, trained economists -- is that economic theory cannot say anything definitive about subjective statements, such as what's better, good, bad or worse. Let's try a few examples to make the point.
The other day I saw a syndicated column about sex-selection abortion. That is, a mother's choosing to abort her baby because it's the "wrong" sex, say a girl, when she really wanted a boy. It happens around the world, particularly in Asia. And the one-child policy in still Communist China has only increased the practice. It would be hard to come up with a clearer example of sexual discrimination.
I'm scared. I fear that even if the Supreme Court overrules most of Obamacare (or did already, by the time you read this), Republicans will join Democrats in restoring "good" parts of the law, like the requirement that insurance companies cover kids up to age 26 and every American with a pre-existing condition.
Young Women Are Being Lied To By the Left; Fight Back With New Book “Assault and Flattery” | Scottie Hughes