Is Cryptocurrency Good for the World?

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?

Winning the Trade War Doesn’t Mean Victory

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

Economics Support Increased Border Security

The recent death of Mollie Tibbets has reignited calls for increased border security, with supporters of such measures citing the social costs of illegal immigration. But while one could argue endlessly on the social impact of illegal immigration, the reality is that illegal immigrants commit fewer violent crimes than natural citizens. The rare social consequences of the practice alone will not be enough for Congress to approve measures for additional border security. The economic consequences of the practice, on the other hand, are more than enough to justify further investments to try to curb it. Strengthening our porous borders would prevent illegal immigrants from robbing Americans of billions of dollars each year through the use of government services and by driving down wages.

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The Economic Motives For A Trade War

The trade war between the United States and China has faced mass criticism within the US with both Republicans and Democrats criticizing the President’s motive for starting it. But from an economic standpoint, this shouldn’t be a topic of debate. For years, China has been taking advantage of the United States economically with their unfair trade policies, theft of intellectual property, and currency manipulation. Continue reading The Economic Motives For A Trade War