There is a lot that baseball can teach us about economics. In part one, we looked at creative destruction, subjective value, and how both economic principles are at play in baseball. Now let’s examine a few more. Self-Regulating Markets You… Read More
Baseball is a game of failure; you are going to groundout, flyout, and strikeout more than you are going to get a base hit or a walk. And there’s a lot that the sport can teach about economics, too. Let’s… Read More
Before Kansas was Kansas, it was populated by the indigenous people known as the Paleo-Indians. The state got its name from the Kansa or “Kaw” tribes that lived there. Other native groups inhabited the area, too, including the Arapaho, Comanche,… Read More
Congratulations. You are living through one of the most prosperous times in American history. This is stage three of a bubble: Euphoria. Bubblemania: A Primer A market bubble is defined in one of two ways. The first is that a… Read More
Immigration has played a huge role in the creation of the United States as we know it today. The arrival of people from other countries around the world is a hot topic that affects the lives of Americans, and opinions… Read More
Everybody is a borrower and a lender in today’s economy. Every time a person uses a credit card, they are borrowing money from a credit lender. In each transaction, interest is involved. But what is interest exactly, and how does… Read More
It seems like everything is put on credit these days. From lunch and movie tickets to paying for a college degree, consumers are living on borrowed money. Governments are also relying on credit to keep their doors open, and businesses… Read More
While Democrats and Republicans run the United States government today, that hasn’t always been the case. When the United States began, there were no formal political parties. That didn’t last long, and George Washington is the only president in U.S…. Read More
Iowa, also known as the Hawkeye State, became the 29th state admitted to the Union on December 28, 1846. The state’s name comes from the Iowa River, referring to the Ioway people, a tribe of Native Americans that inhabited the… Read More
In a tweet on December 27, President Donald Trump wrote: “Thank YOU Indian Country for being such an IMPORTANT part of the American story! I recently signed 3 bills to support tribal sovereignty…” The mentioned legislation includes compensation to the… Read More
On December 11, 1816, Indiana became the 19th state to join the Union. Like many other territories, before it became part of the United States, it was first inhabited by indigenous people, dating back more than 15,000 years. The most… Read More
You have probably heard by now that the national debt is the biggest it has ever been and that it’s only growing, as each year sees a new record high. But what is the national debt? And why should we… Read More