The welfare state is an attempt to “do good” with someone else’s money. The aim may be worthy but the means are faulty. The problem is that you do not spend someone else’s money as carefully...

Is the economic theory of utility a useful way of understanding consumer behavior? Ronald Coase and Gary Becker, Nobel Economists at the University of Chicago, explain and discuss the theory of...

If the government has the power and responsibility to promote equality of income, then how do we define the concept of equality? Jefferson, in his Declaration of Independence, meant equality before...