In this blog post, we will explore the link between the likelihood of marijuana businesses being permitted in a city’s jurisdiction and the level of financial stress being experienced by the city.
Understanding the economics of bureaucracy: The implications of William Niskanen’s theory on public policy
William Niskanen, an economist and public policy expert, is known for his theory on the economics of bureaucracy. He argues that bureaucracy is not a neutral and efficient agent, but rather a rational, self-interested agent that maximizes its own budget and power, rather than serving the public interest.
Immigration: Good or Bad for the United States?
Some of the core beliefs in the libertarian philosophy are individual rights and limited government intervention. This philosophy extends to the issue of immigration, which I wholeheartedly support. The purpose of this blog post is to discuss the economic benefits of immigration from a libertarian perspective, as well as to refute common misconceptions about immigration
A Sorry Excuse for a Stimulus Package
Congress will soon be passing a new Covid-19 stimulus package worth nearly $900 billion. This new package provides relief for individuals that are unemployed by extending federal unemployment insurance programs as well as providing an additional $300 per week benefit. It also includes loans for businesses, testing and vaccine funds, as well as funding for schools.
The Negative Impact of Barriers to Entry on Income Inequality
Barriers to entry such as fees, licensing, or educational requirements, make it more difficult to start businesses in many countries. Problematically, many barriers to entry are due to regulatory capture and only serve to benefit incumbent firms and businesses. These regulations that are created and enforced by the government often make it exceedingly difficult for low-income individuals to start new businesses or new careers in many industries. By discouraging or even denying individuals access to higher paying occupations, barriers to entry tend to increase income inequality. In this analysis, we estimate empirically the effect that barriers to entry have on income inequality.