Around this time of year, I always re-think some of the central assumptions of economics. This is because I have to explain them to new undergraduates, most of whom have no background in economics.
Financial planners will tell you that Rule No. 1 in managing your nest egg is to never spend the principal. Interest is a renewable resource, but if you crack the nest egg, there will be less and less to generate interest next year and the year after. It is good advice.
Too bad we have not been listening.
On Friday, a co-worker told me about a television news story she had seen that morning.
What’s the difference between a whistleblower and a leaker?
The blue lights flash; it’s time to pull the car over. You were speeding and you know it, but you’re a little frustrated because you were in a hurry.
Last week, we celebrated the anniversary of our country’s birth as the world’s greatest democracy. In another part of the world, a fledgling democracy may have come to an end.