May 24, 2013 Rabbi Tzvi Hersh Weinreb: When I didn't so 'humbly disagree' Caroline B. Glick: Thank you, Hafez al-Assad Diana West: From the Brooklyn Bridge to London Morgan Housel: Why spotting bubbles is so much harder than you think Environmental Nutrition editors: NuVal labeling to the rescue? Jewz in the Newz by Nate Bloom : Memorial Day: Jews Serving and KIA in War on Terror; Liberace Bio-Pic; Jew Wins "Survivor"; Shalom, Dr. Brothers; More The Kosher Gourmet by Emma Christensen: HIDE THESE FROZEN TREATS FROM THE KIDDIES!: Sangria pops; Irish cream pudding pops; mango Lassi pops May 22, 2013 John Thorne: They launched the 'Arab Spring' but now yearn for the good old days of a strongman John Rosemond: 'Disciplinary math' adds up to parental successl Warren Richey: Are prayers before public meetings OK? Supreme Court to decide Rick Montgomery: Use of ADHD drugs as study aid raises concern on campuses Brierley Wright, M.S., R.D.: 6 convincing reasons you should keep carbs in your diet Eoin O'Carroll: Scientists examine nothing, find something The Kosher Gourmet by Carole Kotkin: This soup is made from one of the great pleasures of spring: A wonderful pairing of rosy color and earthy tang May 20, 2013 Richard A. Serrano: Is Meir Kahane's assassin now a changed man? Hannan Adely: Town raises Palestinian flag at City Hall Melissa Healy: Genetic copies of living people from embryos no longer science fiction Morgan Housel: When smart investors do stupid things Sharon Saloman, M.S., R.D.: Hunger games: Eat more, weigh less, without starving Jewz in the Newz by Nate Bloom : Jews Inducted into Rock Hall of Fame; Anton Yelchin co-stars in New "Trek" film; Kutcher (but not Kunis) visits Israel; Jewish TV Star Praises Jewish Rap Star The Kosher Gourmet by Cathy Pollak: WARNING: This WALNUT CAKE WITH PRALINE FROSTING, perfect for afternoon coffee, is addicting May 13, 2013 Rabbi Nathan Lopes Cardozo: Why the giving of the document that would permanently change the world could only be done in desolation David G. Savage: Church-state, literally? Supreme Court weighing public school graduation in a church Emily Alpert: Recession dragged down birth rates for less-educated women Morgan Housel: The deep downside of home ownership Peter Teffer: Will Dutch police soon be stalking cybercriminals on your computer? Heidi McIndoo, M.S., R.D.: Meatless 'meat' can have its own set of problems The Kosher Gourmet by Diane Rossen Worthington: Celebrate! This must-try appetizer is delicate yet has depth of flavor: Corn-Leek Cakes with Caviar, Smoked Salmon and Creme Fraiche May 10, 2013 Rabbi Berel Wein: Be all that you should be Caroline B. Glick: The dirty little secret about Israel's Arabs Mona Charen: Hawking's Moral Calculus: The man and the movement he embraces Morgan Housel: The biggest retirement myth ever told Sandi Doughton: Eyes may provide new insight into brain problems Jewz in the Newz by Nate Bloom : The Great Gatsby's Jewish Ties; Jews in the "Time 100 list" List; People's Most Beautiful Women The Kosher Gourmet by Linda Gassenheimer: A sweet-hot meal: Pear salsa spices up salmon May 8, 2013 Peter Ford: Why China is welcoming both Israel's Netanyahu and Palestinians' Abbas Warren Richey: Obama administration quietly backs out of appeal over new contraceptive mandate Fred Weir: At Kerry-Putin meeting, US-Russia relations thaw --- a tad Amanda Paulson: Study reveals sad truths about community colleges 'Garbage man' in cells could extend life Harvard Health Letters: Evidence weak that zinc, echinacea are beneficial The Kosher Gourmet by Leela Cyd Ross : Almost too pretty to eat, this colorful salad with Sicilian inspiration will tickle the taste buds and delight your visual sensibility May 6, 2013 Edmund Sanders and Patrick J. McDonnell: Think Israel's objective in Syria is to weaken Assad or embolden the rebels? Think again Brian Bennett: Israeli airstrikes may show weakness in Syrian defense Michael Ollove: Millions of ex-felons, parolees and those on probation are about to be entitled to tax-payer paid health coverage Karen Kaplan: Most men can skip PSA test for prostate cancer, urologists say Kimberly Lankford: How to track down a lost life insurance policy Dream of Mars exploration achievable, experts say The Kosher Gourmet by Susan M. Selasky: EGGPLANT WRAPS are an easy, sumptuous and scrumptious meal May 3, 2013 Rabbi Nathan Lopes Cardozo: Human Courage and the Unavoidable, Disturbing Text Steven Emerson: Attorney General Fights CAIR in Court, Lauds it in Public Mediterranean diet helps beat dementia: study Harvard Health Letters: When to be screened for a hearing problem Jewz in the Newz by Nate Bloom : Iron Man's Jewish Connections; Marc Maron's New TV Show; Martin Landau Grows Up with Israel; Shalom, Allan Arbus The Kosher Gourmet by Diane Rossen Worthington: A sweet surprise for Mother's Day dessert May 1, 2013 Jonathan Rosenblum: An Improbable Journey to Orthodoxy Jonathan Tobin: Blame Obama, Not Israel for Syria Push Kids, kittens the Same? With employee perks at struggling Internet pioneer Yahoo! it's hard to tell Halena M. Gazelka, M.D.: Mayo Clinic Medical Edge: What you need to know about implanted pain relief devices Sandy Kleffman: Artificial kidney offers hope to patients tethered to a dialysis machine Jessica Shugart: When it comes to math, MRIs may be better than IQs The Kosher Gourmet by Mario Batali: The celebrated chef on how high-maintenance ASPARAGUS RISOTTO need not be April 29, 2013 Roy Gutman: Poland's new Jewish museum celebrates life, doesn't revisit Holocaust Mark Clayton: Terrorism in America: Is US missing a chance to learn from failed plots? Kim Murphy: Boston Bomber's 'Svengali' Revealed Morgan Housel: He's rich, smart and old: Listen to him Thomas Salinas, D.D.S.: Mayo Clinic Medical Edge: The safety of amalgam fillings Harvard Health Letters: Tomatoes and stroke protection Pete Spotts: Tiny satellites + cellphones = cheaper 'eyes in the sky' for NASA The Kosher Gourmet by Diane Rossen Worthington: Swing into spring with lemon cream pie April 26, 2013 Rabbi Abraham J. Twerski: The world is a mirror Caroline B. Glick: Time to confront Obama Clifford D. May: Defense in the Age of Jihadist Terrorism Kimberly Lankford: New strategies ease pain of paying for long-term care insurance Howard LeWine, M.D.: Ask the Harvard Experts: Too much ibuprofen? Sharon Palmer, R.D.: How to feel your best -- with plenty of energy, a healthy weight and optimal mental and physical function -- without driving yourself batty Jewz in the Newz by Nate Bloom: Jewish Major Leaguers, 2013; New Movies and Comedy Show; Shalom, 'Lumpy' (Leave it to Beaver) The Kosher Gourmet by Emily Ho : A bright and cheerful salad to herald the warmer months ahead April 24, 2013 Steven Emerson: Boston Bomber Exposes Islamist Secret Top Muslim cleric boycotts inter-faith dialogue conference attended by 'Jews' Morgan Housel Admit it: No one has any idea what's going on Harvard Health Letters: Can you get headaches from headache medication? Kerri-Ann Jennings, M.S., R.D.: How to easily get more Omega-3s in your diet Melissa Healy: Pot in a pill: All the pain relief without the smoke The Kosher Gourmet by Susan Russo: Chipotle Chili Butternut Squash Soup is bold, zesty, hot April 22, 2013 Ken Dilanian: Counterterrorism's future is unclear Hagel, on maiden Middle East visit, arrives in Israel bearing gifts and promises US man departing country arrested on terror charges Barbara Williams: An unorthodox but growing treatment in a 9-year-old's battle against cancer P.J. Skerrett, M.D.: How to recognize a good whole grain product Jewz in the Newz by Nate Bloom: Teen actor Jonah Bobo in New Flick: Hunky James Wolk on Mad Men; Erich Segal's Daughter Writes Prize-Winning Jewish Novel

Jewish World Review Jan. 13, 2005 / 3 Shevat, 5765 Economics for the citizen By Walter Williams Part One of a Ten-Part Series http://www.JewishWorldReview.com | Last fall semester, I didn't teach for the first time in 37 years. No, I haven't retired. It was my semester-off reward for two terms as department chairman at George Mason University. A break is well deserved after a chairmanship — a job not unlike that of herding cats. During fall semesters, I typically teach our first-year Ph.D. microeconomics theory course. Out of a love for teaching, I've decided to not completely take off but deliver a few lectures on basic economic principles to my readership. We'll name the series "Economics for the Citizen." The first lesson in economic theory is that we live in a world of scarcity. Scarcity is a situation whereby human wants exceed the means to satisfy those wants. Human wants are assumed to be limitless, or at least they don't frequently reveal their bounds. People always want more of something, be it: more cars, more food, more love, more happiness, more peace, more health care, more clean air or more charity. Our ability and resources to satisfy all those wants are indeed limited. There's only a finite amount of: land, iron, workers and years in a lifetime. Scarcity produces several economic problems: What's to be produced, who's going to get it, how's it to be produced, and when is it to be produced? For example, many Americans, and foreigners, too, would love to have a home or vacation home along the thousand miles of California, Oregon and Washington coastline. Shipping companies would like to use some of it as ports. The U.S. Defense Department would like to use it for military installations. There's simply not enough coastline to meet all the competing wants and uses. That means there's conflict over coastline ownership and its uses. There are several methods of conflict resolution. First, there's the market mechanism — let the highest bidder be the one who owns and decides how the land will be used. Then, there's government fiat, where the government dictates who gets to use the land for what purpose. Gifts might be the way where an owner arbitrarily chooses a recipient. Finally, violence is a way to resolve the question of who has the use rights to the coastline — let people get weapons and physically fight it out. At this juncture, some might piously say, "Violence is no way to resolve conflict!" The heck it isn't. The decision of who had the right to use most of the Earth's surface was settled through violence (wars). Who has the right to the income I earn is partially settled through the threats of violence. In fact, violence is such an effective means of resolving conflict that most governments want a monopoly on its use. Which is the best method to resolve conflict issues surrounding the questions of what's to be produced, how and when it's produced, and who's going to get it? Is it the market mechanism, government fiat, gifts or violence? Before you attempt an answer — which I'll give in the next lecture — be advised that it's a trick question that easily traps many of my teeny-bopper sophomore students and even a few graduate students. I personally believe that economics is fun and valuable. People who say they found it a nightmare in college just didn't have a good teacher-professor. I became a good teacher-professor as a result of tenacious mentors during my graduate study at UCLA. Professor Armen Alchian, a very distinguished economist, used to give me a hard time in class. But one day, we were having a friendly chat during our department's weekly faculty/graduate student coffee hour, and he said, "Williams, the true test of whether someone understands his subject is whether he can explain it to someone who doesn't know a darn thing about it." That's a challenge I love: making economics fun and understandable. Every weekday JewishWorldReview.com publishes what many in uplifting articles. Sign up for the daily JWR update. It's free. Just click here. Walter Williams Archives © 2005, Creators Syndicate