The following is part of the In Defense of Freedom essay series by Northwood University students. This piece is authored by Riley Hayer. For 150 years, Americans have been accustomed to the choice between a Democrat or a Republican. For many, the last few elections have been a vote for the lesser of two evils,...
The following is the latest economic outlook from the McNair Center for the Advancement of Free Enterprise and Entrepreneurship at Northwood University.It was co-authored by McNair student scholar, Brad Getchel. Introduction China has real estate problems at home with many experts arguing the problem could be in the trillions of dollars. Reuters recently reported China...
Leonard E. Read, the founding and long-serving first president of the Foundation for Economic Education (FEE), once told a story about when he first met the famous Austrian economist Ludwig von Mises. It was in 1940, shortly after Mises had arrived in the United States from war-torn Europe. Read had invited Mises to Los Angeles...
Regardless of the reason or rationale, the social effect of affirmative-action policies is to politicize social relationships. And the consequences of this have been everything from systems of privilege and corruption to mob violence and civil war. America was founded upon the idea that it is the individual who possesses rights. This was counter to...
Research from a team that included a pair of Northwood University professors about the drivers of individual analytics and its effect on decision quality and regret was presented during an international conference over the weekend. Kevin McCormack and Marcos Oliveira partnered with Peter Trkman (University of Ljubljana, School of Economics and Business) and Marcelo Bronzo...
The major causes of our current inflation-driven crisis are the roughly $6 trillion in largely excessive spending the Trump and Biden Administrations spent in the name of COVID relief and economic recovery; President Biden’s reregulation of the U.S. economy; and the dramatic expansion of the U.S. Federal Reserve Bank’s balance sheet from $4.14 trillion (January...
At a banquet dinner held in New York City on March 7, 1956, honoring the famous Austrian economist Ludwig von Mises, another equally renowned member of the Austrian school of economics, Friedrich A. Hayek, delivered a talk highlighting the important contributions of his long-time mentor and close friend, going back to when they first met...
By Georges-Alexandre Courquin and Sacha Rebaudo, Skema Business School — under the supervision of Dr. Kevin McCormack, Northwood University Editor’s note: The following is a summary of a research paper the authors are publishing this year about the impact the coronavirus pandemic has had on globalization and maritime transport. Since 2020, the world’s economy has...
The Northwood University COVID-19 Optimism Index is prepared monthly by the McNair Center for the Advancement of Free Enterprise and Entrepreneurship at Northwood University. The Index follows seven variables on a daily basis. The variables are (a) Total U.S. COVID cases, (b) Total U.S. COVID-related deaths, (c) Current U.S. COVID-19 Mortality Rate, (d) Performance of...
Seventy-five years ago, there occurred an important event in the post–World War II revival of free-market liberal ideas. Over the first ten days of April 1947, 39 people from Europe and the United States met in a hotel in Switzerland at a mountain place known as Mont Pelerin. They came together to discuss the future...
Background: The baby formula market has four manufacturers with 90% of the market and the federal government is into 50% of the market with the WIC program (price-controlled formula with a food stamp type distribution program). The problem is a very non-resilient (and uniform demand) supply chain had a disruption when the FDA shut down...
In a Sept. 1, 1935, article entitled Notes on the Next War published in Esquire magazine, American literary icon Ernest Hemingway wrote: “The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political...
Introduction In early May, the U.S. Consumer Price Index and Producer Price Index for April 2022 were released. On the surface, neither report was great news relative to America’s battle with inflation, yet both, in our opinion, showed progress in the fight. The Consumer Price Index was up 8.3% on a year-to-year basis in April...
If a face can launch a thousand ships, then the masked faces of K-12 schoolchildren should launch a thousand class action lawsuits for developmental disabilities, educational loss, and emotional and psychological damages since 2020. Even if those lawsuits are a longshot, however, Covid bullying has at least launched thousands of parents into action. Remote teaching...