Large national banks reportedly are losing many customers to smaller community banks and credit unions. This is a general, if delayed, response to public disgust at the actions and privileged treatment of the big banks over the past four years.…
A moral stance on issues can bring economic costs
North Dakota’s beef about Minnesota’s restrictions on electricity generated from coal together with California’s new greenhouse gas cap-and-trade system illustrate a knotty economic question. How does a society decide issues in which some, but not all, people feel morally bound…
Bank of America renounces debit card fee, but who really wins?
Bank of America has caved in on its announced decision to charge most debit card users a $5 monthly fee. Chalk up one for Adam Smith, who explained 235 years ago how competition benefits consumers. Once it became clear none…
The number of those who pay no U.S. tax is actually minuscule
(This column is part two in a two-part series. Part one, “Half don’t pay taxes is one misunderstood rubric,” discusses the common misunderstandings the public has about taxation.) In any given recent year, 40 percent to 50 percent of the…