Faith and Economics Gwartney Institute

Justin is angry and animated because he thinks we live in a world where measurement has replaced judgment, and that this robs us of individuality, autonomy, and authenticity.  He also thinks the results in terrible outcomes for physical and mental health, education, and if you can believe it, other bad stuff too.  He's really on one, so let him cook.

What are labor unions, and what role do they play in the modern economy?  The Gwartney team explains the arguments for and against Labor Unions, and outlines the ways in which these arguments have changed as the economy has modernized and globalized.

At the Gwartney Institute, we're very fancy.  Still, we wanted to know: What exactly constitutes high art?  Is there any substantial difference between the avant-garde and what the rest of us enjoy? Peter walks the Gwartney team through an interesting article purporting to answer this very question. Along the way they touch on haute cuisine,
cinema, centerfolds, and punk rock.

Who's Afraid of Deflation?Everyone hates inflation - where our money is worth less and less over time.  However, many economists prefer a limited amount of inflation to a phenomenon that they find even scarier: deflation.   What is deflation, where does it come from, and why are policymakers so afraid of it?  Peter, Russ and Justin explain the orthodox view that deflation is dangerous, and then they explain why this fear may not in fact be entirely warranted.

Could we work less and be better off?  The traditional 40-hour work week has been under the microscope in certain policy circles, accompanied by suggestions that if we moved to a 4-day work week (or a similarly reduced schedule) we would be happier and just as wealthy.  The Gwartney team takes precious time out of their respective work weeks to look at these suggestions and the assumptions and arguments which motivate them.  

To what degree is our food supply under federal control?  How and why does this happen?  How much of a problem is this?  Justin has a bee in his bonnet about current federal regulations regarding livestock, and the rest of the Gwartney crew humors his paranoia with civil discussion.