by Richard W. Rahn | May 29, 2023
How tall are you? How much do you weigh? What is the net value of your assets? The answers to all of these questions change over time — they are variables. Your height changes over the years — as you grow from an infant and then into middle age, you begin to shrink —...
by Richard W. Rahn | May 23, 2023
Take a look at the nearest food package. Notice there is a list of ingredients that tells you how many calories and other useful information. Most of us assume that the information is largely accurate because we know the manufacturer can be sued for misleading us. Do...
by Richard W. Rahn | May 16, 2023
If you are reading a news article about someone being charged with armed robbery, a visual image of a fellow with a gun holding up a store or bank probably comes to mind. But if the article says someone has been arrested on a money laundering charge, no particular...
by Richard W. Rahn | May 9, 2023
TEASPOONS OR POWER SHOVELS? Why are we substituting labor for capital? The Department of Labor reported last week that “labor productivity decreased 0.9 percent” in the first quarter of 2023. “The 0.9 percent productivity decline is the first time the four-quarter...
by Richard W. Rahn | May 2, 2023
Assume that the U.S. government announces it is going to issue enough money in the next three days to pay off the federal debt of $31 trillion. Yes, the debt would disappear, but the dollar would lose almost its entire value. What do you think most people would do if...
