We’ve made a lot of economic progress in the last 50 years as this example illustrates — for what a single Sears TV console cost in 1964, the same amount of inflation-adjusted dollars today could buy five modern kitchen appliances and seven state-of-the-art electronics items, including a 50-inch Sharp LED HDTV.
As one economist puts it: “We cannot all be like the Scandinavians, because Scandinavian capitalism depends in part on the knowledge spillovers created by the more cutthroat American capitalism.”
How widespread can negative interest rates become? How negative can they get?
Falcoff argues that it will be difficult, perhaps impossible, to reverse the decades-long devastation and that to expect an instantly revitalized dynamic Cuba to emerge is unrealistic.
Sony Pictures has now confirmed that it is canceling the Christmas release of The Interview, a comedy starring James Franco and Seth Rogen, due to North Korean–directed threats against theaters. Not since the fatwa against Salman Rushdie and The Satanic Verses has the West so cravenly surrendered to intellectual terrorism.
The sharp drop in oil prices may cause a minor key replay of what happened in the Lone Star State back in 1986.
Most federal crop subsidies go to farm households that have much higher incomes and are far wealthier than the average US household.
The repeal of Section 716, the so-called swaps push-out rule, will do little to increase the risk of a taxpayer bailout of Wall Street. But it will reduce the costs of banks’ swap businesses.
A recent hearing on the findings of the blue-ribbon National Defense Panel points to several key items that need to be on the Pentagon’s to-do list over the final two years of the Obama administration.
Congress has passed, and President Obama will soon sign into law, the Achieving a Better Life Experience (ABLE) Act, which will create a new ABLE account. The account is a good idea within the context of the current income tax system, but highlights the system’s inherent limitations.