Our Sacred Honor

The development of the global economy is perhaps one of the most controversial topics in economics, while also the most inevitable. Very few economists would argue that resisting globalization is a wise idea, or even possible. However, there are definite advantages and disadvantages to a global economy. This blog simply weighs the positives and negatives of how globalization has impacted the United States and the international market as a whole in regards to specialization of economies, protectionism, and international trade.                The American system was designed around an understanding of the free market – where supply and demand determine the prices of various good and services. This allows scarce resources to flow to their most efficient uses, since capitalist producers will not continue to waste valuable resources on failed experiments, if there is no economic incentive. As competition increas...

One hardly needs to be a politician to understand that our nation is in a crisis of leadership, right now. Today we enter the 4th full day of the government shutdown, and the American people are clearly fed up. As Congress continues to debate over how "compromise" must come about, we have seen the government "shutdown" affect national parks, websites, memorials, and as I saw on facebook a few days ago, even the First Lady's Twitter feed.  In my opinion, this is true budget crisis. As a Public Policy major, I take an almost morbid curiosity in wondering "who will blink first," but even in the midst of this musing, I cannot forget what is truly on the line with this debate -- The healthcare system in our nation, and more importantly, the very meaning of compromise.  From news articles to Twitter feeds to Youtube, we have all seen various perspectives on "who is right" with this issue. In a recent Op-ed in the New York Times, the auth...