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Economics textbooks feature a coherent theory of how markets can allocate scarce resources in ways that achieve what is plausibly described as maximum possible human satisfaction.
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Part 1: What is a Trade Balance? The balance of trade, often described under the heading of a “trade deficit” or a “trade surplus,” is the difference between the dollar […]
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In the past decade, the theoretical and empirical arguments of French economist Thomas Piketty have attracted widespread attention.
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We face a mixed picture for the recovery of competitive federalism.
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Free-market electricity rests on time-honored theoretical and evidential foundations. Yet the classical-liberal alternative to heavy-handed regulation has been ignored for more than a century.
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Whether at the federal, state, or local level of government, the rate of growth of government debt is unsustainable. Fortunately, solutions are available for all levels of government.