It should not come as a shock to anyone that Venezuela is facing one of the worst economic crises in its history. In fact, the country has been on the verge of collapse for quite some time now. For the
The Invisible Hand: Is it working?
Adam Smith believed that self-interested individuals are not primarily concerned with helping other people out. However, by operating in an efficient market system, they indirectly promote the benefit of society as a whole. In his book, An Inquiry into the Nature and Causes
A case for increasing U.S. foreign aid: why it is an investment
U.S. Foreign aid is a tricky issue to tackle, especially at a time when most Americans are misinformed about foreign aid spending. In a recent Kaiser Family Foundation survey, most respondents could not correctly estimate the percentage of the U.S. federal budget dedicated to
High skilled foreign-born workers: why we need them
As globalization increases, the U.S. economy finds itself constantly pressured to innovate and compete in a world market. Manjari Raman, senior researcher and program director at the U.S. Competitiveness Project at Harvard Business School, stated that immigration and innovation are
Relationship between Real Disposable Income per capita and Total Sales of cars in the US
To estimate an Engel curve, I will look at the relationship between real disposable income per capita in the US and the total sales of car in the US from 1976 to 2016 with monthly data. I’m expecting for income