Cognitive biases cause us to place more weight on the consequences of losing something than the benefits of gaining something. This “loss aversion” has many implications for policy and politics.
Income inequality is a widely discussed topic as it applies to the middle class, overall economic picture, and 2016 Election. Is it really a problem? If so, how big of a problem is it?
People often prioritize the present over the future when making decisions. This short-sightedness, or temporal myopia, cause us to underestimate the consequences or benefits that our decisions will have in the future. Though this type of thought process is not rational, it is ingrained in the way that we make decisions.
Externalities represent a failure of an economic market to work properly because the purchase price of a good or service does not accurately reflect the true cost or benefit to the individual and society collectively.
The short and simple: collecting data on crime rates is a challenging, complex art. However, of the vast body information that does exist, there is no evidence to suggest that increased immigration has a positive causative effect on crime rates. In fact, most analyses have found that immigrants – both legal and illegal – are … [Read more…]
The quick and dirty: the majority of lawful immigration to the United States is centered around family reunification; net immigration from Mexico has shifted such that more people are leaving the United States than arriving from Mexico. Getting to the United States Legally # The basics of legal immigration: Let’s start with a basic understanding … [Read more…]