On March 27th, 2017, the National Football League’s thirty-two owners voted on whether or not the Oakland Raiders franchise would be allowed to relocate to Las Vegas for the beginning of the 2019 football season. The vote, which passed with
Brexit and the Invisible Hand: Why Adam Smith Wouldn’t Have Panicked
Adam Smith, the economist credited with the theory of the invisible hand in economics, once said about mankind’s economic decision-making process that “By preferring the support of domestic to that of foreign industry, he intends only his own security; and by
How the U.S. Government Ought to Tackle its’ National Debt
The United States national debt is an often talked-about but seldom agreed-upon issue in today’s political climate. With the national debt now standing at a staggering $19.9 trillion dollars, or 106% of U.S. annual Gross Domestic Product, it seems to
Why Has U.S. Real GDP Growth Been Persistently Low After the “Great Recession”?
Since the great recession of 2007-2009, GDP growth has repeatedly missed the traditional ideal of 3 percent growth per year. In fact, in this article from CNS News, Senator Dan Coats, the chairman of Congress’ Joint Economic Committee, is quoted
Time-Series Analysis: Median Family Income vs. Total U.S. Motor Gasoline Demand
For the Engel Curve assignment, I chose to analyze the relationship between Median Family Income in the United States (MEFAIN) and Total U.S. Demand for motor gasoline (MPGUS) from 1985 to 2013. Median Family Income data is inflation adjusted and