Even though it is the case that poverty is linked to AIDS, in the sense that Africa is poor and they have a lot of AIDS, it's not necessarily the case that improving poverty - at least in the short run, that improving exports and improving developmen...
Dictators cause the world's worst problems: all the collapsed states, and all the devastated economies. All the vapid cases of corruption, grand theft, and naked plunder of the treasury are caused by dictators, leaving in their wake trails of wanton ...
I think where I differ a little bit, we absolutely have to think about the deficit looking down the road. And certainly that's something the president has said that we need to, as the economy recovers, have a plan in place for getting it down.
If every other store in town is paying workers $9 an hour, one offering $8 will find it hard to hire anyone - perhaps not when unemployment is high, but certainly in normal times. Robust competition is a powerful force helping to ensure that workers ...
Reading takes the reader to faraway lands, new cultures, new and exciting adventures; you meet new friends and enemies; it takes the reader from the heights of the imagination to the depths of human emotions; all without taking a single step.
A laborer no longer makes whole articles. He receives raw materials, puts his touch on them, and passes them to another worker in the series. When the articles are quite finished they are carried out of sight by currents of commercial exchange. These...
Dull would be the man who should merely tolerate this plan of social industry. Weak would be the position of him who should take an apologetic tone in defending it, or present its claims in a merely negative way, by exposing the evils and perils of t...
If a man were living in isolation his income would be literally his product. Make him the monarch and owner of an island, and the fruits that he raises and the clothing that he makes constitute, in themselves, his income. This ceases to be true when ...
One of the things we have to remember about the poorest countries in the world is that parents, extremely poor parents, are making the choice of whether to send their girls to school. And they are struggling with lack of water, lack of firewood, and ...
Gone are the days when the upper classes were terrified of the angry mob wanting to smash their skulls and confiscate their properties. Now their biggest enemy is the army of lazy bums, whose lifestyle of indolence and hedonism, financed by crippling...
Patent monopoly creates a lot of problems. It allows the patentee to charge the maximum to consumers. This may not be a problem if the patented product is a luxury item, like parts that go into a smartphone, but can violate basic human rights if it i...
I went to M.I.T. in the summer of 1951 as a 'C.L.E. Moore Instructor.' I had been an instructor at Princeton for one year after obtaining my degree in 1950. It seemed desirable more for personal and social reasons than academic ones to accept the hig...
In Asia, a lot of successful economies that had been living on their own saving, decided to open up their financial markets to international capital in the early 1990s. So here were countries doing quite well, but they decided they'd borrow a bit mor...
I think in part the reason is that seeing an economy that is, in many ways, quite different from the one grows up in, helps crystallize issues: in one's own environment, one takes too much for granted, without asking why things are the way they are.
In the first weeks of the Obama administration, 'bipartisanship' was the reigning buzzword, and when the Beltway thinks 'bipartisan,' it pictures President Reagan and Democratic Speaker of the House Tip O'Neill putting aside their differences and for...
Because cheating is easier when we can justify our behavior, people often cheat in small amounts: We can come up with an excuse for stealing Post-It notes, but it is much more difficult to come up with an excuse for taking $10,000 from petty cash.
President Johnson put destroyers in harm's way in the Tonkin Gulf not only once, but several times, with the, with a lot of his people hoping that it would lead to a confrontation and claiming that it had. And could have resulted in the lost of many ...
If you think in terms of major losses, because losses loom much larger than gains - that's a very well-established finding - you tend to be very risk-averse. When you think in terms of wealth, you tend to be much less risk-averse.
Ever since John Kennedy, Democrats have had a weakness for dashing younger men like Bill Clinton and Barack Obama and, I suppose, Jimmy Carter. They balance their tickets with senior statesmen - Lyndon Johnson, Joe Biden, Walter Mondale. (Al Gore was...
Economics should be defined in terms of what it is about. It should be about how people produce things, how people exchange them, how people earn income, how they pay taxes, how the government provides infrastructure with tax revenue, and how it cond...
Once upon a time, I was a workaholic clocking more than 80 hours per week. That changed after I began to write. I now work only around 35 hours per week. I do not work on weekends because these are the days that I use for research as well as for my w...
