From the first colonists to the heyday of Ellis Island, the U.S. has largely been built upon the backs of people who were not born here. But the economic impact of immigrants is more than just a matter of history. Even today, immigrants are the entrepreneurial engines that power the nation. From 1996 to 2011, the business startup rate for immigrants grew by more than 50 percent. In contrast, the number of companies started by U.S.-born citizens dropped by 10 Continue reading
In mid-December 2014 President Obama shocked the world by announcing that the U.S. would reestablish a diplomatic relationship with Cuba. Reversing more than six decades of American foreign policy, the decision is expected to have an enormous impact on Cubans living both on the island and abroad. Diplomats are even discussing lifting the trade embargo that the U.S. imposed in the 1960s in response to Cuba’s hostile Communist regime.
Besides opening up channels for travel and trade, the easing of Continue reading
Jeff Oberholtzer, a plumber from Texas City, TX, thought he had seen the last of his old pickup truck when he sold it in October 2013. Unfortunately for him, the Ford F-250 he offloaded popped up more than a year later in a place he never would have expected. In mid-December 2014, a terrorist Twitter account from Syria posted a picture of two extremists firing a homemade anti-aircraft gun from the bed of a truck. While the picture normally would Continue reading
The stock market crash of 2008 sent shockwaves across the world’s economies, leading many to speculate about the future of American financial policy on the global stage. In the eyes of many experts at the time, the U.S. dollar was especially at risk of losing its decades-long dominance. After all, the inferno of the financial crisis spread so fast because many nations measure their own currency against the dollar. When its value plummeted, so did countless other currencies.
The debacle Continue reading
Russia’s aggression against Ukraine has been widely condemned by the international community. Besides strongly denouncing the nation’s actions, recent U.N. resolutions hit Vladimir Putin’s government with economic sanctions as well. The Kremlin responded to this punishment by banning the importation of food from the U.S., Canada, Australia, Norway and the European Union. Shortly after news of the ban broke, Russia also announced that it was closing down four McDonald’s locations in Moscow for “sanitary violations.”
For outsiders, the link Continue reading
In the 1950s, more than 150 television manufacturers called the U.S. home. Today, not even component parts for TVs are produced on American soil. Still, that hasn’t stopped Wal-Mart from slapping “Assembled in the USA” stickers onto many flat screen TVs stocked in its stores. That’s because the company buys the televisions from South Carolina’s Element Electronics Corporation, which imports all their items from China.
That doesn’t mean Element is simply a middleman operation though. TVs that arrive at the Continue reading
Walmart became the largest retail chain in the U.S. by offering customers the same low prices every day. As it expanded globally, however, the company found out that not every culture responds to this pricing strategy. For instance, Walmart has had a hard time winning over Brazilian consumers despite opening 550 stores in nearly 200 cities. That’s because most people in the large South American nation are happy to hunt for the best deals at a variety of stores rather Continue reading