Free Trade Is out of Fashion

Since Adam Smith presented immutable evidence against the concepts of Mercantilism and Protectionism back in 1776, it has been widely accepted by economists and politicians that the mechanism of free trade between nations is the greatest wealth building tool at humanity’s disposal. Why, then, is this concept increasingly under attack? Populists around the world rail… Continue reading Free Trade Is out of Fashion

Repealing the Volcker Rule

Today (4 May, 2017) in Washington, the House Financial Services Committee approved a bill dubbed the “Financial CHOICE act”, sponsored by Jeb Hensarling, R-Texas. In the bill is a directive to repeal a section of the Dodd-Frank Wall Street Reform and Consumer Protection Act dubbed the “Volcker Rule”. What this does is strips Americans of… Continue reading Repealing the Volcker Rule

Some Jobs Aren’t Coming Back, and That’s Not a Bad Thing

Change is painful. Change is difficult. Change can cause the alphas and the elites of yesterday to be the downtrodden and the impoverished of today. Change can also lift the middle class up and provide a higher standard of living for all people. It is the people who prepare for and adapt to change who… Continue reading Some Jobs Aren’t Coming Back, and That’s Not a Bad Thing

Everyday Economics: Rational Expectations

The term “Expectations” could mean multiple things depending on who you ask. If you ask a parent what their expectations are, they might say “I expect my kids to make their bed every day.” If you ask an elementary school teacher, they might say “I expect my students to complete their homework on time.” What… Continue reading Everyday Economics: Rational Expectations