April 2025 - Econ Briefs

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Month: April 2025

F
From Holodomor to Today – by Dr. Cecil Bohanon and Dr. John Horowitz
- Geopolitics
April 30, 2025 by christianhartselle
The Wall Street Journal has recently documented the Russian Army confiscating hundreds of thousands of tons of grain from newly-occupied regions of the Ukraine. The army has coordinated the transportation of the grain to the Crimean port of Sevastopol for export sale to Russia’s Middle Eastern allies. Russia is stealing Ukraine’s grain for Russia’s gain. […]

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A
A Trust Fund in Trouble – by Dr. Cecil Bohanon and Dr. John Horowitz
- Government
April 30, 2025 by christianhartselle
Recent news reports indicate the Social Security Trust Fund will run out of money in 2035. What should be done? First some background. Social Security currently spends $1.145 trillion per year, making it the largest government expenditure program in the United States and probably the largest expenditure program in the world. Social Security supports about […]

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T
The Market Roots of a Homegrown Meal – by Dr. Cecil Bohanon and Dr. John Horowitz
- Macroeconomics
April 30, 2025 by christianhartselle
There is something very satisfying about food from one’s own home garden. The gardener enjoys the produce of his own hands. He escapes the dreary dependence on others and achieves a sense of independence and self-reliance. Bohanon reveled in that feeling last weekend when he harvested eight pounds of mustard greens from his small garden […]

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W
War powers are a public good that must be scrutinized – by Dr. Cecil Bohanon and Dr. John Horowitz
- Politics
April 30, 2025 by christianhartselle
Economists use public good theory to think about government programs. A pure public good is a good that benefits everyone. Indeed, no one can be excluded from its benefits. National defense is a quintessential public good. Protection from foreign invaders for one is protection for all. Because people can receive the benefits without paying (free-ride), […]

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G
Gift giving is all about relationships, not goods – by Dr. Cecil Bohanon and Dr. John Horowitz
- Culture
April 30, 2025 by christianhartselle
Economics is labeled the “dismal science,” and often for good reason. Using standard economic thinking it is easy to show that the holiday custom of gift-giving is an enormous waste of time and resources. Ebenezer Scrooge was right: the whole thing is a humbug! Take that bottle of cologne Nephew Fred gives Uncle Ebenezer. It […]

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H
Harm reduction is no winner in drug fight – by Dr. Cecil Bohanon and Dr. John Horowitz
- Health economics
April 30, 2025 by christianhartselle
In the 1800s, people in the United States could buy opioids in drugstores, and doctors routinely prescribed them. It is estimated that 1 in 200 Americans were addicted to opioids in 1895. By the early 1900s, the federal government and state governments regulated opioids and made non-prescription use of opioids drugs illegal. The “War on […]

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E
Exact economic estimates merit your skepticism – by Dr. Cecil Bohanon and Dr. John Horowitz
- Macroeconomics
April 30, 2025 by christianhartselle
In his new book, Economist Russ Roberts writes about tame and wild problems. Tame problems are well-defined and predictable, and wild problems are loosely defined and unpredictable. The moon landing was a tame problem. Though it was difficult, it was a defined and predictable use of science, engineering, and rational thought. Wild problems are problems […]

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Y
Yes, printing money during COVID led to inflation – by Dr. Cecil Bohanon and Dr. John Horowitz
- Inflation
April 30, 2025 by christianhartselle
Did the Federal government print money to spend for COVID relief and other expenditures, and is that why we are now experiencing inflation? Any first-year macroeconomics student should know that it isn’t that simple. But when we look at the effect of Federal Treasury/Federal Reserve financing, this assessment is mainly correct. When the Federal Treasury […]

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T
This Thanksgiving, there’s plenty to be grateful for – by Dr. Cecil Bohanon and Dr. John Horowitz
- Macroeconomics
April 30, 2025 by christianhartselle
During the dark days of the Civil War and while probably experiencing depression, Abraham Lincoln declared a day of Thanksgiving for the bounties and blessings Providence provided. Many countries and cultures have harvest festivals and thanksgiving feasts to express thanks. Philosophers, religious leaders, and scientists throughout the ages have discussed how gratitude is important for […]

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F
Fewer children partly attributed to pensions – by Dr. Cecil Bohanon and Dr. John Horowitz
- Population
April 30, 2025 by christianhartselle
The United Nations expects the world population to reach 8 billion on November 15, 2022. The population increased because rising wealth, better living conditions, and improved health care reduced child mortality and increased life spans. In the 1960s and 70s, many experts were worried about a population explosion that would generate war, famine, and pestilence, […]

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