What Is The Relationship Between Economic Freedom and Prosperity?

What Is The Relationship Between Economic Freedom and Prosperity? Why are some countries rich but others remain poor? This is a question that has been investigated for a long time, and was also one tackled by Adam Smith in his famous book, The Wealth of Nations. The field of development economics mainly came into being in…
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The Good of Sweatshops: Does Capitalism Exploit Workers?

The Marxist tale of worker exploitation According to Marxists, exploitation of men has not ceased following the collapse of the institutions of slavery and feudalism and still persist today in the form of capitalism. Capitalists are monstrously depicted as the elite class consumed by greed, sustaining their lavish lifestyles on the backs of poor workers.…
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Doom or Bloom: Are We In Danger of Running Out of Resources?

Is the Earth running out of resources? Mankind is no stranger to the paranoia that we would soon run out of resources from unchecked consumption. In 1798, at a time of roughly 800 million people, economist Thomas Malthus feared that our exponential population growth would outstrip linear increments in food production, producing famines worldwide. In…
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Less is More: Why Economists Oppose The Minimum Wage

Minimum wage policy and its perpetual debate The ‘Fight for $15′ minimim wage movement has gone viral in the United States. One of its ardent supporters is Senator Bernie Sanders, who calls the present federal minimum wage of $7.25 ‘starvation pay’. In October 2018, he wrote to McDonald’s CEO Steve Easterbrook, urging him to join Amazon,…
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The Nuts and Bots of Automation: Is There A Case For Automation Anxiety?

The Myth of Machines Stealing Jobs Is Not Yet Dead Elevator operators, lamplighters and chimney sweepers – many of these dangerous, mundane and laborious professions have vanished from our modern world today. Work has never been more meaningful, safe and productive. However, fear that human labour could soon become obsolete have cultivated much pessimism about…
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