Archive
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Should Economics Attempt to Replicate the Natural Sciences?
A phenomenon known as the Replication Crisis is challenging the seemingly unquestionable authority and accuracy that a published study in the natural sciences is expected to have, inviting the question as to whether economists should aspire to the standards of natural scientists or to something better.
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Bitcoin’s Price Volatility is Trending in the Wrong Direction
It only takes a quick glance at recent news to know Bitcoin is volatile; its fluctuations in price have made headlines for months now. But exactly how volatile is it relative to commonly used currencies, and how does that affect this cryptocurrency’s ability to actually be a usable medium of exchange?
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E.C. Harwood and Rigorous Methods of Inquiry in Economics
Although economists around the globe may not yet share a common method of inquiry as biologists, physicists, and chemists do, E.C. Harwood had a vision of an inevitable future of economics based on the scientific method. He proclaimed, “Organized intelligence shall triumph over the infantile, the primitive, the prescientific economic knowings of mankind.”
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Everyday Prices Rose 2.2 Percent in 2017
AIER’s Everyday Price Index (EPI) fell 0.2 percent in December following a 0.2 percent rise in November. The EPI measures price changes people see in everyday purchases such as groceries, restaurant meals, gasoline, and utilities. As a comparison, the more widely known price gauge, the Consumer Price Index (CPI), which is reported by the Bureau…
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January Business Conditions Monthly
AIER’s Business Cycle Conditions Leading Indicators index held at 92 in December, matching the highest level since 2014 and the best multi-month performance since a run of four readings of 100 between October 2013 and January 2014. The Roughly Coincident Indicators index held at 100 for a second month after seven consecutive months at 100…
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The Tax Code Should Not Be Used to Influence Home Buyers
Why should the government encourage homeownership?
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December Business Conditions Monthly
AIER’s Business Cycle Conditions Leading Indicators index jumped to 92 in November from a reading of 79 in the prior month. The Roughly Coincident Indicators index rebounded to a perfect 100 after seven consecutive months at 100 were followed by a 92 in October. The Lagging Indicators index remained at 50 for the second month…
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How the Government and Special Interests Thwart Economic Mobility
Government intervention is the chief obstacle to mobility. Lower-income people would benefit immeasurably from the scrapping of those interventions.
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Drop in Apparel’s Prices Offsets Jump in Motor Fuels’
AIER’s Everyday Price Index rose 0.2 percent in November following a 0.7 percent drop in October. The EPI measures price changes people see in everyday purchases such as groceries, restaurant meals, gasoline, and utilities. As a comparison, the more widely known price gauge, the Consumer Price Index, which is reported by the Bureau of Labor…
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End Net Neutrality
Trump-appointed FCC Chairman Ajit Pai condemns the current rules because of their preemptive nature.
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Consumption Is the Purpose of Production
Judging by much business news, you’d forget that the consumer is the raison d’être for economic activity.
