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,...
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...
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...
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 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...
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...
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...
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...
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...
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...
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...
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...
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
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...