Eric Yang

Ultimate Production Possibilities: Butter or Ammo?

Hidden Truths of China’s Triumph

Tariffs and their Consequences

The following brief covers the pros and cons of tariffs. From a political point of view, tariffs are an appealing policy if policymakers wish to preserve domestic industry from foreign competition. However, from an economic perspective, we must always consider: what are the opportunity costs behind such a policy, and are the trade-offs a worthy sacrifice of potential benefits?

The Future of Social Security

Social Security—also known as the Old-Age, Survivors, and Disability Insurance (OASDI) program in the United States—is run by the Social Security Administration (SSA). The program is best known for its retirement benefits and is primarily funded (89.6 percent) by payroll taxes. The program also provides income to disabled people who qualify, as well as their family members. Workers must be at least 65 years old and have financially contributed to society for 10 years or more. The longevity of Social Security has been put under question as of late and this brief will attempt to address the conflict regarding Social Security (with a focus on its funding) as well as a recommendation for how it should be approached.

The Debt Ceiling

Fiscal spending is perhaps the single greatest piece of Congress’ agenda in any given year. Congressional discourse regarding caps on spending caps have brought about a plethora of instances when the federal government halted operations. The conversation regarding the debt ceiling is an imperative one as congressional purchasing power is the primary driver of all areas of American policy. Moreover, this brief seeks to thoroughly analyze the affirmative and negative stance on the existence of a debt ceiling. After comparing both viewpoints, this brief will attempt to provide a policy recommendation for Congress regarding the existence and extent of a debt ceiling.

Price Controls

This brief will analyze the concept of mandated government price control. This level of severe domestic, economic intervention carries both positive and negative repercussions. The questions of price control sensibility, floor minimums, ceiling maximums, and longevity will all be answered in this brief.

Monetary Solutions for Inflation after COVID-19

Given that the recent increase in inflation has impacted the U.S. economy in unprecedented ways, the Federal Reserve’s (Fed) response has become increasingly imperative. Namely, the contractionary monetary prescription—which the Fed has supplemented with quantitative tapering—is of critical importance in regards to the future of the U.S. economy. As such, this brief will address imperative issues with the Fed’s actions in regards to tapering, and recommend certain policies that can aid the Fed to reduce the supply of the circulating medium.

A $15 Minimum Wage on Balance

The idea of increasing the federal minimum wage to $15 is a serious policy prescription in the modern day. This brief will give an overview of the $15 minimum wage, the history behind it, the impact of the policy itself, and end with a policy recommendation.