THE ECONOMY

Why Do Some People Earn More Than Others?

Why Do Some People Earn More Than Others?

Most discussions of income inequality implicitly assume that individual preferences have virtually no effect on the outcome. In fact, differences in preferences may be the most important determinant of the distribution of income.

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What You Need To Know About “The Big Short”

What You Need To Know About “The Big Short”

One of the most intriguing movies I’ve seen in a long time is The Big Short. It’s about the housing bubble and what we now call the Great Recession, based on Michael Lewis’s bestselling book “The Big Short: Inside the Doomsday Machine.”

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Saving and Gramm in the Wall Street Journal: The Fed’s Obama-Era Hangover

The Federal Reserve’s Accountability Deficit

The Federal Reserve enjoys extraordinary independence from the elected branches of government, based on the well-founded fear that politicians cannot be trusted with the power to print money and manipulate interest rates.

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Why Does Anyone Work?

Why Does Anyone Work?

As Americans celebrated the Labor Day weekend, nearly 94 million people of working age actually had nothing to celebrate. That’s because they aren’t in the labor force.

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