The price of a college education has been spiking in recent decades. Although this may now seem like a fact of life, it was not always this way. In fact, the spike distinctly began around 1982. So, what happened? Supply (the number of degrees awarded per year) remained steady, so the rapidly increasing cost indicates […]
When looking at a market, leftists see a means by which the rich can exploit the labor of the poor to build on their fortunes. Proponents of economic freedom would see rational actors negotiating fair prices through competition, the effect of what Adam Smith called the “invisible hand” of the market. Both are correct only […]