Fergus Hodgson
Articles
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New Cryptocurrency to Mimic Algorithmic Central Bank
A new cryptocurrency, “basis,” seeks to eliminate price volatility by setting up an “algorithmic central bank,” that is, a set of rules that adjust the money supply without human intervention.
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Walmart a Boon for the Hungry
Walmart critics should take a hard look and assess whether they are really for the well-being of the poor or just virtue-signaling the fashionable dislike of “obscene” profits.
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Fewer International Students a Loss for America
The United States is losing her appeal to international students. Once accounting for nearly half of students worldwide, the number now constitutes 24 percent.
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What Minimum-Wage Advocates Ignore
Politicians often turn to minimum-wage hikes when pressed by constituents to “do something” about poverty. They turn a blind eye to the fact recipients tend not to be from poor households, as British Columbia’s case shows.
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‘The Mechanism’ Shows How the Corrupt Will Eat Their Own
In setting the right incentives for criminals to want to cooperate with law enforcement—for selfish reasons—lies the success of Brazil’s crusade against corruption.
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America Need Not Be the Incarceration Nation
There are so many criminal laws in place, ranging from the silly to the outright absurd, that most Americans will become potential felons during their lives.
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Don’t Believe Olympic-Bid Estimates
It is not just Canada; every single Olympic Games for which data was available exploded its budget, without exception. The Olympics are so grossly miscalculated that the authors concluded that they “have the highest average cost overrun of any type of mega-project.”
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If You Can’t Beat Foreign Competitors, Copy Them
The “sweet spot” that facilitates spillover effects occurs with foreign firms with local market focus and highly tangible assets. Although the results are not uniform, this new research shows that far from being detrimental, foreign companies keep local ones on their toes, as locals search for ever better ways to serve customers and piggyback on…
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Why Fiscal Warnings Fall on Deaf Ears
The most profound and important insight from Miron’s contribution is the political resistance to sufficient spending cuts, which are unavoidable, since neither higher taxes nor higher growth provide a path to solvency.
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Why Unpaid Internships Make Sense
In a perfect universe, everyone would be automatically productive, and firms would have deep pockets to hire employees right away with full salaries. The reality is that taking on a new employee is costly; replacing one is even harder; time constraints are real; and competition is fierce, especially for small and medium-size firms with cash-strapped budgets.
