Most concede that a Green New Deal would be an economic disaster. Achieving 100% renewable energies alone would cost an estimated $2.9 trillion, nearly a full year’s tax revenue. Despite these economic shortcomings, though, public support only continues to grow, with supporters citing its ability to mitigate climate change as more than enough justification for backing the deal. Realistically, the deal fails at addressing its intended goal of fighting climate change and overall, represents a misguided way to tackle climate change. Continue reading The Green New Deal’s Real Problem
With neighboring Canada and individual states such as California and Colorado legalizing marijuana, the fight for recreational marijuana legalization has become a highly contentious topic. However, when reviewing both sides of the debate the choice becomes clear. Long term, legalizing marijuana can be the most beneficial option for the United States.
Our current political era has left Americans more politically involved and simultaneously divided than ever before. Following the lead of consumers, many companies have left their previously neutral political stances and have intertwined themselves into the political debate. The reasoning behind these political stances has subsequently become a fierce topic of debate.Continue reading The Economics Behind Corporate Politics
Rising in popularity of recent, cryptocurrency has become one of the most intriguing “assets” in the world. Unlike many other investments, these assets have no real underlying value and are vastly different from traditional currencies, such as the euro and US dollar, which are backed by powerful central banks. These, relatively new instruments have opened up an unknown set of options for the market. While on one hand there has been much criticism surrounding these assets with some even calling for the end of cryptocurrencies due to their use to facilitate illegal transactions like buying drugs and other restricted substances as well as money laundering. However, despite all the negatives, cryptocurrencies have fostered a revolutionary technology in blockchain which has the potential of revolutionizing how we record and maintain information, and this should be encouraged. Continue reading Is Cryptocurrency Good for the World?
Barring unforeseen circumstances, the United States will likely win the trade war with China. However, the end result may not be as great for the United States as President Trump and his supporters may hope.
When all is said and done, the United States will likely come out of this trade war as the unanimous victor. Economically, China simply cannot keep up with the United States when it comes to handling tariffs. Although both countries may see their exports suffer, the results for China will be much worse, given that 14% of the Chinese economy is dependent on exports to the US, compared to just 4% of the US economy that is dependent on exports to China. This trade imbalance will cause the Chinese economy a lot more pain than what their counter tariffs can possibly inflict on the United States. If China doesn’t take the necessary steps to end this trade war, their economy will suffer massively in comparison to the United States. Continue reading Winning the Trade War Doesn’t Mean Victory