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Why protectionism harms human dignity
From an economic perspective, protectionism is one of the most foolish policies a country can adopt. It not only hurts the nation’s economy, but makes individual households poorer. Why then do so many people who are aware of this reality still support protectionist policies? One reason is because they (wrongly) believe that protectionism actually protects American jobs. They also believe (rightly) that the loss of employment has social and moral implications that are caused by a loss of dignity. Economist...
Yes, the gender wage gap is still a myth—and a potentially dangerous one
Today is Equal Pay Day, a day set aside to perpetuate the myth of the “gender pay gap,” which claims that, because of gender discrimination, women receive about 22 percent lower pay on average for doing the same work as men. The observance was started in 1996 by the National Committee on Pay Equity, and yet after 21 years and hundreds of articles debunking the claim, the idea that gender pay gap is a real problem is a myth that...
How socialism ruined Brazil
The popularity of the Bernie Sanders’s presidential campaign revealed how popular socialism is with a large swath of Americans. But how has socialism worked out in other countries? Felipe Moura Brasil, a journalist and columnist for Veja magazine, explains how his country has fared under socialism. ...
The minimum wage as a price floor
Note: This is post #27 in a weekly video series on basic microeconomics. Minimum wages are a type of price floor, and as with all prices floors, when prices are kept artificially high they can lead to several consequences that hurt the consumer. In this video by Marginal Revolution University, Alex Tabarrok shows how price floors create surpluses (such as a surplus in labor, or unemployment) as well as deadweight loss. (If you find the pace of the videos too...
The ‘Great Repeal Bill’ and the long shadow of EU law
Millions had assumed that Brexit meant that, in the words of Prime Minister Theresa May,“our laws will be made in Westminster, Edinburgh, Cardiff, and Belfast.” But the government has announced that it will continue to be bound by thousands of EU regulations, passed in Brussels, for the foreseeable future. The revelation is part of the government white paperon the ing“Great Repeal Bill.” It will revoke the European Communities Act of 1972,the legislation that maintains the UK’s membership in the EU....
The worst humanitarian crisis since World War II
The world is facing its largest humanitarian crisis since 1945, according to the United Nations. “We stand at a critical point in history. Already at the beginning of the year we are facing the largest humanitarian crisis since the creation of the UN,” UN Emergency Relief Coordinator Stephen O’Brien recently told the UN’s Security Council. While many countries worldwide face food security crises, with large numbers of people hungry and unable to find enough food, only rarely do the conditions...
John Stonestreet doesn’t want to talk about sex
On the latest edition of Radio Free Acton, John Stonestreet, the President of the Colson Center for Christian Worldview, joins Marc Vander Maas to talk about the current cultural and moral malaise of the West and affirms the unique role of Christianity in the development and sustaining of western civilization. Stonestreet discusses the dangers and ultimate consequences of the West’s abandonment of its Christian moral principles and affirms the necessity of virtue as a panion to freedom. Additionally, in this...
Hillbilly experts: Economic optimism from Appalachia
It seems like every day we hear the siren calls of ing end of jobs. A new report out of thePwCsays that 38% of all jobs in America are at risk of being automated. This mostly affects jobs that require little to no education, which could include entire industries, such as truck driving, storage, or food service. We are told that the trade-off will be “worth it.” Millions of jobs will be destroyed. Uneducated workers, the very ones whose jobs...
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