In a recent string of tweets, economist Paul Krugman talked about the government issuing either a trillion-dollar coin or “premium bonds” to keep its nearly 7-decade-long spending spree going. He argued that premium bonds were more likely because “nobody understands premium bonds” and ...
Adam Smith, the great Scottish economist and moral philosopher, didn’t have to confront the environmental crisis, the healthcare delivery challenge or any of today’s issues. But his economic theory and moral philosophy — his unseen hand — are as pertinent today as they were in his ...
Wars can drag on forever. History tells of the Hundred Years’ War, the Eighty Years’ War, and the Thirty Years’ War. The 2001-2014 Afghanistan War is considered America’s longest conflict. Yet sometimes, wars wrap up with surprising swiftness. Take history’s shortest war. How long ...
The 2024 Republican primaries are underway — six candidates, including former president Donald Trump, have already announced, and more than a dozen other Republicans have their eyes on the nomination. As former state Republican Party chairs in Michigan and Utah, we’re excited about this ...
The Department of Defense last year requested $773 billion in fiscal year 2023 funding for its operations. This $773 billion represented a $30.7 billion increase from the previous year’s enacted amount — and accounts for half of all discretionary spending in the federal budget. But even ...
Like many economics professors, I frequently get emails from a variety of cranks and conspiracy theorists. Occasionally, I get an interesting email question about my research on economic freedom. It’s complicated, but in a nutshell, my work generally shows that countries with more economic ...