If there is one entity this article can definitively criticize, it is the DOJ itself. In both the current AT&T/Time Warner matter and the NBCU/Comcast merger it allowed with numerous conditions in 2011, it relied on economic logic that can be called into question and mathematical models that were intended to formalize broad concepts in an academic setting, not predict the future with enough precision to provide grounds to approve or block multibillion-dollar mergers.
A phenomenon known as the Replication Crisis is challenging the seemingly unquestionable authority and accuracy that a published study in the natural sciences is expected to have, inviting the question as to whether economists should aspire to the standards of natural scientists or to something better.
It only takes a quick glance at recent news to know Bitcoin is volatile; its fluctuations in price have made headlines for months now. But exactly how volatile is it relative to commonly used currencies, and how does that affect this cryptocurrency’s ability to actually be a usable medium of exchange?
Although economists around the globe may not yet share a common method of inquiry as biologists, physicists, and chemists do, E.C. Harwood had a vision of an inevitable future of economics based on the scientific method. He proclaimed, “Organized intelligence shall triumph over the infantile, the primitive, the prescientific economic knowings of mankind.”
While the nature of the news events does not necessarily explain the magnitude of Bitcoin’s price changes or its daily volatility, it does suggest that the market is not being driven entirely by manipulation or the behavior of small numbers of traders.
Why should the government encourage homeownership?
Government intervention is the chief obstacle to mobility. Lower-income people would benefit immeasurably from the scrapping of those interventions.
This is the third and final article in a series about blockchain-enabled “smart contracts” and their ability to address retail fraud.
This is the second in a series of three articles about blockchain-enabled “smart contracts” and their ability to address retail fraud.
This is the first in a series of three articles about blockchain-enabled “smart contracts” and their ability to address retail fraud.
Cutting taxes, which President Trump promises, without cutting spending would increase the budget deficit and therefore the national debt and interest payments.