John A. Parnell, Ph.D.
About 44 million Americans owe a collective $1.5 trillion in college debt. If elected, Elizabeth Warren and Bernie Sanders propose to end it. Other Democrats have made similar claims. To be fair, I sympathize with students who overextended themselves with debt, expected a job they didn’t get, and are now obligated to pay it back. […]
Read MoreThe trade war with China is escalating. The most recent concern is what the Trump administration accurately calls “currency manipulation.” Major world currencies like the US dollar, the euro, the Japanese yen, and the British pound are actively traded; the rates of exchange among these currencies are determined predominantly by market forces (traders). But the […]
Read MoreAs we celebrate the success of the US women’s soccer team, attention has turned to the lawsuit demanding equal compensation for male and female players. Winning the World Cup seems to bolster the claim, but there’s more to the issue than just “equal pay.” Compensation in any job is based primarily on someone else’s willingness […]
Read MoreThe value of a bitcoin peaked at $20,000 in 2018, dropped below $5,000 earlier this year, and just rose above $10,000 again. Amateur and professional speculators have attempted to profit from its volatility. If you are interested in technical explanations or “investing” in bitcoin, there is a lot of information available online. I am not […]
Read MorePresident Trump surprised just about everyone when he threatened to tariff Mexican imports at a rate reaching 25% by October unless they do more to halt the flow of illegal immigrants. The President was criticized harshly and immediately by leaders of both parties. The US Chamber of Commerce even threatened legal action to block the […]
Read MoreMany of the commentators analyzing the US-China trade negotiations are making assumptions that are not entirely accurate. I will address 3 of them here. First, Chinese leaders recognize that free markets drive economic growth. As a rule, Chinese leaders seek to shape markets, not follow them. They talk a lot about “free markets” and “free […]
Read MoreProspects of a trade deal with China are unclear. I’ve always believed there will be an agreement—and I still do—but it will require a lot of compromise. If you think about the ongoing negotiations as a poker game, both sides still hold valuable cards. Here’s how I see it. The U.S. is in an overall […]
Read MoreBefore Bernie’s rise in the 2016 primary, most of capitalism’s opponents tried to stake out a “middle ground” between markets and socialism. Their healthcare proposals (like Obamacare) claimed to seek universal coverage in partnership with the private sector. Their tax proposals emphasized rate hikes on the top 1% of earners. They seemed less interested in […]
Read MoreThe ongoing college admission scandal at the University of Southern California, Georgetown, and other universities has exposed the hypocrisy of some of the elites in our society. The story has been reported widely, but I want to address two angles that I’m not hearing discussed elsewhere. First, college admission decisions should be as clear and […]
Read MoreThe US Trade Deficit rose to $621 billion from $1027 to 2018 while the merchandise trade deficit with China increased to $419 billion. It’s interesting to see how this issue is mischaracterized by those on the left. In fact, many of the same media pundits who claimed that the President’s focus on lowering the trade […]
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