When Free to Choose is the signature publication of Northwood University. It is dedicated to promoting the global, diverse and multi-cultural nature of enterprise. Bringing lessons of the American free enterprise society directly to your inbox or mailbox, When Free to Choose features informative essays about timely issues and events, and thought-provoking point-counterpoint essays written by industry experts, faculty, scholars and researchers.
In a world of change, the fundamental principles of The Northwood Idea are timeless. Under any circumstances, personal freedom and individual responsibility are essential for a free society. So it is illustrative to examine some of the most compelling expressions of The Northwood Idea that great thinkers have contributed through the years. We call them...
Have you ever wondered why society expects us to behave in certain ways? For instance, why is it seen as proper for a young person to hold the door for the elderly, help those in need, or honor their parents? Why is it deemed unacceptable to lie, steal, cut in line, or commit marital infidelity?...
The first federal minimum wage bill was signed into law during Franklin D. Roosevelt’s second term as U.S. President. The Great Depression gave Washington a pretext to enact sweeping economic restrictions. So, by 1938, Congress had made it illegal for employees to charge less than 25 cents per hour for their labor services. Today’s inflation-adjusted...
China’s ‘Reign of Little Emperors’ is a significant era in the country’s history, caused by the implementation of the controversial one-child policy and its profound socio-economic repercussions. The policy was officially enforced into the law in 1980 until it was gradually changed in 2016 and 2021. The policy was used as a tool to address...
Congress has repeatedly demonstrated it is not constrained by the debt ceiling (which is the total amount of debt the federal government can legally borrow). Every time the federal debt approaches the limit, Congress raises it. Ergo the debt ceiling does not meaningfully prevent the government from borrowing and spending more money than it has. ...
Markets big or small are made up of decision makers. When a market is characterized as a free market, that means it meets a certain criterion, including limited government intervention and the voluntary and peaceful exchange of private property rights. I recently read a piece by Dr. Walter E. Williams, a modern American economist, entitled...
Editor’s note: This piece was co-authored by Andrew Reder, a student from Northwood University. It originally was published on TownHall. As we have been discussing for months, the United States ended its “job recovery” from the COVID-19 recession in December 2022, when it finally surpassed the December 2019 level (158.8 million Americans employed) reaching 159.24...
It’s hard to find someone these days who hasn’t heard about Right to Repair. Right to repair is the concept that consumers should have the right to repair the products they own and also have access to repair information and replacement parts from manufacturers. Right to repair spans major industries, including phones, computers, agriculture equipment,...
American institutions were designed to secure for all citizens their natural rights to “life, liberty, and the pursuit of happiness.” This gave rise to the world’s most dynamic economy and a well-deserved reputation as the “land of opportunity.” At about the time Northwood was founded, President Dwight D. Eisenhower observed, “only our individual faith in...
The two most important lessons one can learn in economics are: “There’s no such thing as a free lunch” and “Incentives matter.” In a world of scarcity, every choice we make has an opportunity cost. As rational beings, every one of us is trying to achieve the best outcomes under the current constraints. Frederic Bastiat...
The following is a recent discussion between U.S. Congresswoman Lisa C. McClain, Northwood University Economics department chair Dr. Dale C. Matcheck and Dr. Timothy G. Nash, director of the McNair Center for the Advancement of Free Enterprise and Entrepreneurship at Northwood University. The conversation centered around recent comments by U.S. Federal Reserve Bank (Fed) chairman,...
The Northwood Idea is vibrant and adaptive in a world of change, and its fundamental principles are timeless. Under any circumstances, personal freedom and individual responsibility are essential for a free society. So it is illustrative to examine some of the most compelling expressions of The Northwood Idea that great thinkers have contributed through the...
What passes for ‘deregulation’ or market-based reform has limited connection with any call for a truly laissez-faire capitalist United States.
Parents know better than anyone what is best for their children.