Perspectives of Policy

     The governor of Florida, Ron DeSantis, recently implemented new laws around immigration. These laws were put in place in order to restrict immigration and have more background checks on immigrants currently living and working in America. This issue has gotten significant backlash for two main reasons. First off, people believe that the immigrants deserve to be here even if they may not have the proper documents. This is because they essentially live as Florida citizens and have built communities and families here. The other issue with the law is that there will almost definitely be economic consequences. The restriction of immigration will cause a drastic decrease in the labor supply. This will ultimately lower production and hurt the economy as a whole. However, there is a contrasting idea that individual Americans may actually benefit from an economic standpoint. This is because the decrease in immigration will open more opportunities for those already living in Am...

      Economists tend to abide by the structured laws of a free market when predicting outcomes of capitalism. However, the human inhabitants of our market economy are inherently irrational. This often causes a gap between prediction an outcome where there is left room for unpredictability. This dilemma is put into words as the difference between behavioral economics and market economics.      Market economics is filled with cause and effect situations within the study of scarce resources. Due to the inevitable scarcity of resources, laws of supply and demand oblige cordially. Equilibrium points and analytical graphs allow economists to predict outcomes based on determinant factors. Due to the strict abiding of economic laws, predictions often find flaws because they treat human subjects as if they are robots.      Behavioral economics entails the rash decision making of humans that often relies on preference, bias, and stubbornness. Besides ...