Starch granules can be recovered from a variety of archaeological contexts and have been used to interpret plant utilization, cooking technologies, and activity areas. This experiment assessed the distance maize starch granules travelled from an outdoor and indoor stone grinding station.
Most people believe that the benefits of deposit insurance provided by the Federal Deposit Insurance Corporation (FDIC) clearly exceed the costs. However, a growing literature suggests that the benefits of FDIC insurance are overstated while the costs are understated. We add to this literature by considering the implicit costs of government-provided deposit insurance.
The Federal Reserve’s interest rate policy was insufficient, on its own, to achieve the Federal Reserve’s goals during the recent financial crisis. Acquiring the legal authority to pay interest on reserves allowed the Federal Reserve to implement monetary policy using a floor system and thereby divorce interest rate policy from balance sheet policy.
Newhard (2016) challenges our argument, according to which the inefficiency of market-provided national defense is an empirical question rather than a logical implication of the fact that privately provided national defense confronts a free-rider problem.
We examine the failures of the U.S.-led war on drugs in Afghanistan using the tools of economics. By driving the opium economy into the black market, the war on drugs has fostered regime uncertainty, resulted in the violent cartelization of the drug industry, empowered the Taliban insurgency, and contributed to corruption.
This paper describes the short and long-run tradeoffs associated with sweatshop regulation and then examines how reasonable constructions of measures of “worker welfare” would evaluate these tradeoffs finding that the standard economic and ethical case against sweatshop regulations is well supported.
In response to the three petitions by Carol S. Marcus, Mark L. Miller, and Mohan Doss, dated February 9, February 13, and February 24, 2015, respectively, the Nuclear Regulatory Commission (NRC or the Commission) has announced that it is considering assessing its choice of dose–response model, the Linear No-Threshold (LNT) model, for exposure to ionizing radiation. This comment is designed to assist the Commission in evaluating the merits of a review of the default dose–response model it uses as the basis for the Standards for Protection against Radiation regulations.
This paper presents a short narrative example intended for use in teaching the Austrian Business Cycle Theory, meant to complement theoretical presentations by presenting an idealized account of an individual entrepreneur operating over time and responding to various possible evolutions of the interest rate.
Information, investment and innovation are the engines of economic growth in the 21st century. Yet regulatory accumulation and outdated regulatory processes are preventing both the private and public sectors from effectively using the three “I’s” to solve problems and grow the economy.
Mercatus PhD Fellow Vipin Veetil, along with Akshaya Vijayalakshmi and Srikanth Viswanathan, address Amartya Sen's criticism of cash-transfer programs such as education vouchers in the Wall Street Journal.
Discovery, Capitalism, and Distributive Justice makes Kirzner’s case for the idea that entrepreneurial profit is both essential for an economy and profoundly just. Asserting that the problem with standard criticism of capitalist income distribution is a failure to see capitalism as a “discovery procedure,” Kirzner argues that production and subsequent profit are neither automatic nor guaranteed.