Milton Friedman on My Mind
Milton Friedman on My Mind
Dr. Timothy G. Nash, director of the McNair Center for the Advancement of Free Enterprise and Entrepreneurship recently penned this piece in the Midland Daily News.
Happy July 4! New lesson in Philosophy of Free Enterprise online course
Happy July 4! New lesson in Philosophy of Free Enterprise online course
In celebration of the Fourth of July, Northwood University has posted a new lesson in the Philosophy of Free Enterprise, a free online course about freedom and free-market economics. “This newest lesson in Northwood’s online course is incredibly timely, as it explores the differences between freedom and equality, particularly regarding our nation’s ongoing discussion about...
Only Economic Freedom Pulls People Out of Poverty
Only Economic Freedom Pulls People Out of Poverty
The experience of poverty is debilitating and leaves deep scars. People who have experienced poverty are observed to have lasting health, educational, and psychological consequences. Prolonged spells below the poverty line are also associated with social isolation because, when in that situation, attempts to deal with the consequences of material privation necessitate a decline in...
Scientific American takes aim at homeschoolers
Scientific American takes aim at homeschoolers
Should parents be required to pass a background check to teach their kids at home? According to the editors of Scientific American, the answer is “yes.” In a recent article, the editors of the celebrated 178-year-old magazine heavily imply that homeschoolers are being left behind. But they provide no evidence that homeschoolers are worse off...
Why Consumer Sentiment Fell To A Seven-Month Low
Why Consumer Sentiment Fell To A Seven-Month Low
The University of Michigan Consumer Sentiment Survey plummeted to its lowest level in seven months. The index reading for June came in at 65.6, down from 69.1 in May and under the consensus expectation of 72. In the current conditions and expectations categories, the survey fell below economists’ expectations. Year-ahead inflation expectations were unchanged this...
McNair director discusses shrinking middle class
McNair director discusses shrinking middle class
Dr. Timothy Nash, director of the McNair Center for the Advancement of Free Enterprise and Entrepreneurship at Northwood University, discusses a Pew Research Poll that shows the middle class is shrinking with WJR-AM News Talk 760. Listen here!
Politicizing Monetary Policy Won’t Fix the Fed’s Failings
Politicizing Monetary Policy Won’t Fix the Fed’s Failings
Presumptive Republican presidential nominee Donald Trump is unhappy with Federal Reserve Chair Jerome Powell, and says he intends to reform the central bank if elected. As reported, Trump’s plan would require the Fed to consult with the White House on interest rate changes. The proposal aims to give the president the power to influence monetary...
Stop the Hollywood handouts
Stop the Hollywood handouts
“We’re not even in the game,” Michigan State Senator Dayna Polehanki said recently, lamenting that few Hollywood studios are filming movies in her state, which eliminated its film production subsidies in 2015. The senator could learn something from classic movies. As the 1983 nerd-thriller WarGames noted, sometimes the only winning move is not to play....
What Causes Stagflation?
What Causes Stagflation?
In the late 1960s Edmund Phelps and Milton Friedman challenged the popular view that there can be a sustainable trade-off between inflation and unemployment. In fact, over time, according to PF, loose central bank policies set the platform for lower economic growth and a higher rate of inflation, or stagflation. PF’s Explanation of Stagflation Starting...
Welfare Outside of the State
Welfare Outside of the State
An oft cited reason given for the need for the state is that it is the only means through which the poor can access sufficient welfare to relieve them from the harsh realities that can accompany their circumstances. Yet despite the promises made over many decades and the huge sums spent on state welfare programs,...
Our Kids Have No Economic Immune Systems
Our Kids Have No Economic Immune Systems
The sanitation or “hygiene hypothesis” holds that humans need environmental adversity for our immune systems to mature and function normally. The “Old Friends” corollary holds that a variety of “helminths” — tiny parasitic worms, whose eggs have been found in human feces for the past five thousand years, at least — temper and absorb the...
There is a disconnect between economic development programs and economic growth
There is a disconnect between economic development programs and economic growth
Michigan lawmakers have approved $4.4 billion in selective business subsidies so far this term and have proposed billions more. The subsidies are billed as economic development programs. Who doesn’t want more economic development? Yet, people should notice that it’s all a show. Economic development programs are not required to develop the economy. The federal government...
We Can Praise Milei’s Policies without Praising the Man
We Can Praise Milei’s Policies without Praising the Man
When it comes to political battles and controversies there is, unfortunately, a deeply-seated human tendency to emotionally attach one’s self to political leaders and candidates, rather than to principles or policies. This tendency is especially foundational to modern democratic politics in which voters are encouraged to embrace candidates on an emotional level. Once this occurs,...
The Story of the Ritz Cracker Is the Story of Capitalism
The Story of the Ritz Cracker Is the Story of Capitalism
When you last visited the supermarket, you likely walked past a box you’ve seen many times before. The Ritz Cracker has been a staple on American store shelves for 90 years, yet today the snack is often looked down upon; its mass-produced, corporate, and carb-heavy nature has fallen out of favor in an era preferring...