Introductory

Mixed martial arts competitions are legal in 49 states, but not in New York where an interest group keeps the sport illegal in an effort to punish a pair of businessmen.

The Fed often uses the "natural rate" of unemployment to determine whether or not it should raise interest rates. But as with so many metrics the Fed uses, this one is based on arbitrary measures that can be manipulated to suit Fed policy.

Strictly speaking, the phrase "check your privilege" could be an invitation to debate. But in practice, it is all too often an attempt to shut down debate and to make a personal attack on one's opponent in the name of "tolerance."

Jeb Bush recently opined that to get more economic growth, people need to work more hours. What Bush fails to understand is that more employment is not the key to more economic growth. Saving and investment bring more productivity, which brings a better economy.

It's been a light season for hurricanes and tropical storms in North America, and contrary to what many economics "experts" may think, that's a good thing. After all, natural disasters are extremely costly in terms of opportunity costs and capital.

While doctors and nurses become more scarce, the number of health care administrators continues to go up. The role of these administrators is to aggregate and centralize data, although there is no evidence this increases the value of health care.

Debt isn't the only problem Greece faces. Thanks to years of government spending and easy money, the Greek economy long ago turned away from true wealth generating activities and embraced a bubble economy instead.

Although federal courts have struck down their efforts, states and local governments have attempted to limit taxpayer subsidization of migrant populations. This central planning of immigration by the Feds has served only to increase conflict while swelling the size of government.

Fourteen years ago, when Portugal decriminalized most illegal drugs, drug war proponents claimed the move would drive Portugal into chaos. Today, Portugal has the second-lowest death rate from illegal drugs in Europe with no sign of chaos on the horizon.

How the Communist Party of China Bubbles and Tries to Keep Them Afloat