Northwood students earn Stossel in the Classroom contest honors
Northwood students earn Stossel in the Classroom contest honors
Two Northwood University students excelled in this year’s Stossel in the Classroom essay and video contests. “This is a remarkable achievement for Northwood University students,” explained Northwood Economics Professor Alex Tokarev. “This honor reflects their dedication, creativity, and deep understanding of economic principles. This recognition celebrates their hard work and underscores the exceptional education they...
By Kate Hessling
How America Can Solve Our Debt Problem
How America Can Solve Our Debt Problem
The current United States debt is quickly approaching $35 trillion. Do you have a job? Are you a taxpayer? Congratulations – you already owe more than a quarter of a million dollars. By the time you retire, that figure may be twice as high. In the past, the largest increases in government spending came during...
By William Bismack
Students evaluate replacing dollar with digital currency
Students evaluate replacing dollar with digital currency
By Noel Tokarev, Konner Lauria and John Michelotti During the 2024 Politics, Philosophy, and Economics League Competition at Ottawa University in Kansas, we were asked to evaluate a proposal to replace the paper dollar (and our coins) with a digital currency. It was part of a competition where contestants had to approach their evaluations from...
By Alexander Noel Tokarev
Dr. Brooks’ Prescription for Happiness is a Breath of FRESH AIR!
Dr. Brooks’ Prescription for Happiness is a Breath of FRESH AIR!
Among the individual rights found in the American Declaration of Independence is “the pursuit of happiness.” This isn’t just a rhetorical flourish — it implies that happiness requires effort and that it can be elusive. But Dr. Arthur C. Brooks believes that it doesn’t have to be. Drawing on sources ranging from ancient wisdom to...
By Dr. Dale Matcheck
For-Profit Hospitals Act Generously, New Evidence Shows. Here’s Why
For-Profit Hospitals Act Generously, New Evidence Shows. Here’s Why
One of the major critiques of free markets is that certain industries, like healthcare, are “too important” to be left to the self-interested forces of the market. Critics of a free market in healthcare argue that for-profit healthcare businesses will tend to ignore patients who have higher costs unless those patients are willing to pay...
By Peter Jacobsen
Fossil fuel closures will hollow out the grid
Fossil fuel closures will hollow out the grid
Utilities and state governments are pushing full steam ahead with decarbonization plans that will lead to costlier energy and power blackouts. The nation’s electricity grid operators, regulators, and reliability watchdogs alike testify that closing fossil fuel and nuclear electricity generation poses an imminent threat to the reliability of the power grid. “The problem is the...
By Joshua Antonini
Why True Free-Market Advocates Oppose Antitrust Laws
Why True Free-Market Advocates Oppose Antitrust Laws
A May 2, 2024, headline from the New York Times reads: “The first tech monopoly trial of the modern internet era is concluding. The judge’s ruling is likely to set a precedent for other attempts to rein in the tech giants that hold sway over information, social interaction, and commerce.” The focal point of this...
By Ninos P. Malek
Vaccine Mandates Likely Exacerbated Healthcare Worker Shortage, New Research Shows
Vaccine Mandates Likely Exacerbated Healthcare Worker Shortage, New Research Shows
In his book Economics in One Lesson, Henry Hazlitt makes a famous distinction between good and bad economists: The bad economist sees only what immediately strikes the eye; the good economist also looks beyond. The bad economist sees only the direct consequences of a proposed course; the good economist looks also at the longer and...
By Peter Jacobsen
Michigan taxpayers spend more to get the same or worse government services
Michigan taxpayers spend more to get the same or worse government services
Can you think of a single service that has gotten better over the past few years? That’s a question Mackinac Center President Joseph Lehman asked our staff a year or so ago. It has stuck with me. It may be the core issue people end up voting on this November. The job market is pretty...
By Jarrett Skorup
Northwood professor part of Free Market Road Show Tour stops in Budapest, Vienna
Northwood professor part of Free Market Road Show Tour stops in Budapest, Vienna
A Northwood economics professor recently returned to the U.S. after participating in panels in Hungary and Austria that were stops by the 2024 Free Market Road Show. The 2024 Free Market Road Show consists of panels held worldwide to foster critical discourse and innovation. Dr. Alexander Tokarev was featured during stops in Vienna, Austria on...
California Dreamin’: Minimum Wage Hikes Lead to Fewer Jobs and Higher Prices
California Dreamin’: Minimum Wage Hikes Lead to Fewer Jobs and Higher Prices
A few years ago, John Stossel reported that Seattle’s minimum wage hike killed jobs. Now, in this new video, Stossel explains how California is making the same mistake. For more content like this, visit https://www.johnstossel.com/#subscribe
Are You a Servant of Tyranny or Liberty?
Are You a Servant of Tyranny or Liberty?
In 1788, George Washington wrote letters to the Marquis de Lafayette during the process of ratifying the proposed Constitution by the states. Washington made clear to General Lafayette the essentials to prevent the new American republic from devolving into “despotic or oppressive form”: limited delegated powers to the government, checks and balances, and “virtue in...
By Barry Brownstein
Economics as a Universal Science
Economics as a Universal Science
It is often argued in “decolonization” debates that each culture must find its own path to economic progress. In this context, the idea of inclusive economics is that building a diverse society requires economics to take account of “power relations, oppression, qualitative changes in social relations and . . . most importantly, the role of...
By Wanjiru Njoya
Many Say It Feels Like We’re in a Recession, but Do They Really Believe It?
Many Say It Feels Like We’re in a Recession, but Do They Really Believe It?
Off and on over the last two years, we’ve heard from major media outlets about something called a “vibecession.” The idea behind a vibecession is straightforward. Many people say they “feel” like we’re in a very bad moment economically, despite the fact that inflation has begun to slow relative to its worst levels (granted, prices...
By Peter Jacobsen