Ask An Economist — Year in Review
Ask An Economist — Year in Review
In 2023, FEE supported a series of articles by me titled Ask an Economist. Over the course of the year, I answered 16 questions. In this article, I wanted to highlight a few of the questions and answers I received throughout the year. After that, I want to talk about the future of the Ask...
By Peter Jacobsen
Chris Rock Portrays the Tragicomedy of the Minimum Wage
Chris Rock Portrays the Tragicomedy of the Minimum Wage
The comedian Chris Rock has always examined the African-American experience in his work. He sets up one famous joke by explaining how Martin Luther King, Jr was against violence. He then remarks that if one finds oneself lost and happens on a street named after King, one should run away quickly because there will be...
By Scott Drylie
Why Established Brands Often Struggle with Marketing
Why Established Brands Often Struggle with Marketing
Unlike startups that are expected to take risks, get messy, and challenge the status quo, larger established firms inherit what could be considered golden handcuffs, given that success can make change a challenge. Indeed, care must be taken not to rock the boat for stockholders or tarnish the brand equity that has been established among...
By Kimberlee Josephson
Why Are Some Diamond Brands So Expensive?
Why Are Some Diamond Brands So Expensive?
One of my first full-time jobs outside of college was working in the jewelry industry at Harry Winston in Manhattan. The experience I gained as a sales assistant, working at the historical house of Winston, expanded my understanding of the power of a brand. The amount of money customers would spend on a Harry Winston...
By Kimberlee Josephson
7 Ridiculous Examples of Government Waste in 2023
7 Ridiculous Examples of Government Waste in 2023
Almost nobody doubts that the federal government wastes a lot of money. Every day we hear stories of fraud, mismanagement, and misplaced priorities that cost taxpayers millions, and sometimes billions, of dollars. But just how much money is wasted? In his annual Festivus report—named after the fictional Seinfeld holiday—Senator Rand Paul tallies up some of...
By Patrick Carroll
Indians, Property Rights, and Ayn Rand
Indians, Property Rights, and Ayn Rand
At Lincoln Hall in Washington, D.C. on January 14, 1879, a remarkable Native American delivered a speech in which he implored, Let me be a free man, free to travel, free to stop, free to work, free to trade where I choose, free to choose my own teachers, free to follow the religion of my...
By Lawrence W. Reed
The Cheap Populism of Bashing CEO Pay
The Cheap Populism of Bashing CEO Pay
Every year for more than a decade, various think tanks in Canada, the United States, and the United Kingdom produce a “bombshell” study where they state that the Chief Executive Officers (CEOs) of the largest corporations earn many times the income of the average worker. For example, the Canadian Centre for Policy Alternatives (CCPA) published...
By Vincent Geloso
22 States Raised the Minimum Wage: What Does This Mean for Low-Skilled Workers?
22 States Raised the Minimum Wage: What Does This Mean for Low-Skilled Workers?
On January 1st, 22 states and 38 cities and counties raised their minimum wages, sparking some celebration for 10 million workers who get a pay hike, and many doubts for the rest. While this is perhaps a well-intentioned policy, intentions don’t indicate a policy’s effectiveness. Many economists argue that this decision will disadvantage the people...
By Vance Ginn
Is Our Growing National Debt Sinking the American Dream?
Is Our Growing National Debt Sinking the American Dream?
Editor’s Note: This column is co-authored by Dr. Timothy G. Nash, Kate Hessling, Dr. Tom Rastin, and George Lang. It originally appeared in Townhall. As we begin 2024, there are many reasons to celebrate being Americans. We live in the freest, safest, most resource rich and prosperous nation in the world. By many economic measurements,...
By Dr. Timothy Nash
Capitalism Is Impersonal, Not Soulless
Capitalism Is Impersonal, Not Soulless
There’s a lot to like in Richard Jordan’s recent essay at Law & Liberty, “Romancing Creative Destruction.” But it’s also infected with a notable flaw, namely, Jordan’s claim, complete with added emphasis, “capitalism is soulless.” Read narrowly, this assertion is empty of useful meaning. Capitalism isn’t a sentient creature; it has neither consciousness nor a...
By Donald J. Boudreaux
Two Strategies for Making Better Financial Choices in 2024
Two Strategies for Making Better Financial Choices in 2024
The Aesop Fable known as The Ant and the Grasshopper offers a profound commentary on life and work. Its moral is at once striking and compelling, regardless of the reader’s background. One version of the fable goes as follows: One bright day in late autumn a family of Ants were bustling about in the warm...
By Patrick Carroll
What Many Critics of Child Labor Overlook
What Many Critics of Child Labor Overlook
Mars, the candy company, is facing criticism over its use of child labor. These criticisms are in light of a CBS News special report finding that many children, some as young as five, work in fields in Ghana that supply the candy company its cocoa. This is not the first time Mars, Inc. has faced...
By Benjamin Seevers
What Nixon’s Ghost Can Teach Americans about Using Price Controls to Curb Inflation
What Nixon’s Ghost Can Teach Americans about Using Price Controls to Curb Inflation
For the last 2 1/2 years, price inflation has been eating away the paychecks and savings of the public. Consumer prices are up roughly 20% since 2020, according to consumer price index data, and recent polls show the public believes inflation is the single biggest problem facing the country. Unfortunately, many are so concerned about...
By Jonathan Miltimore
Beyond Taxation and Representation: the Legacy of the Boston Tea Party
Beyond Taxation and Representation: the Legacy of the Boston Tea Party
December 16th marked the 250th anniversary of the Boston Tea Party. The British cracked down on Bostonians as a punishment for this political demonstration, which in turn became the spark of the American Revolution. One of the main revolutionary demands, “No Taxation without Representation,” became a rallying cry of concerned subjects-who-would-be-citizens against government overreach and...
By Luis Carlos Araujo Quintero