The United States economy suffers from corporatism and cronyism, which occurs when businesses collude with government to obtain special benefits. The Occupy Wall Street movement has decried this rampant cronyism, but what is the best solution? Pro [...]
The surest way to get people to behave in desirable ways is to reward them for doing so—in other words provide them with incentives. Even when you acknowledge that incentives are necessary, it is not obvious how to establish the ones that motivate [...]
How does trading make people better off? Economics professor Art Carden explains in this quick lesson on one of the most important concepts in Economics 101: trade creates wealth. Part 1 of 3. Prof. Art Carden examines how trade creates wealth, by [...]
Duquesne University economics professor Pavel Yakovlev discusses an often overlooked benefit of free trade: its ability to promote world peace. “If you look at countries that trade a lot with each other, these are some of the countries that import [...]