Schansberg: ‘Varsity Blue’ Scandal
by Eric Schansberg, Ph.D. The university admissions scandal “Operation Varsity Blues” is interesting on many levels: rich people working the system; corruption and bribery in institutions of higher learning; elite, liberal universities sullied by scandal and greed. But as an economist, the episode brings other comparisons to mind. First, consider how the scandal resembles both Read the full article…
McGowan: Socialism, Free Markets and Diversity
by Richard McGowan, Ph.D. A useful way to help students understand economic arrangements is to place the phrases “completely free market” and “perfect command systems” at the end of a line and assign places to countries on the line. A completely free market, a polar end of the continuum, has no regulation governing private property Read the full article…
Progressive Insanity Across the State Line
by Mark Franke “The beatings will continue until morale improves.” We’ve all seen a sign like this posted in workplaces, usually places where the boss is not likely to venture. It is part dark humor and part commentary on the disconnect between the elites and the hoi polloi. But this column is not about management Read the full article…
Morris: Pence and Buttigieg
by Leo Morris Would you like to see a self-professed strongly committed Christian in the White House? Which one? Democratic South Bend Mayor Pete Buttigieg or Republican Vice President Mike Pence? Both are quite candid about their religious faith, so we may presume it informs their political sensibilities, but the synthesis takes them in very Read the full article…
The Outstater: Social Capital
by Craig Ladwig When a business looks to relocate in your community, the economic-development types will make its owners aware of favors that the political establishment can bestow. These will represent fixed or political capital — tax-increment financing, rebates, zoning exceptions, access to the mayor’s office, an inside track to municipal contracts, that sort of Read the full article…
Van Cott: Economists and Tariffs
by T. Norman Van Cott, Ph.D. There are two primary reasons for economists’ opposition to tariffs. First, by raising U.S. prices of imports, tariffs encourage high-cost domestic production of import substitutes. This production would be uneconomic in the tariffs’ absence. Cost measures what people sacrifice to obtain a particular objective, so substituting higher cost domestic Read the full article…
