Michael Hougen

Fifty years ago, Trans World Airlines (TWA) was a household name. Founded in 1924, the airline grew in the postwar era to serve Europe, the Middle East, and Asia. It was the second flag carrier of the United States, after Pan Am. Today,…
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It was long considered a “stylized fact” of economics that the division of income between labour and capital was a set ratio. Charles Cobb defined it as the owners of capital receiving a third of national income, and labourers the other two…
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Until a few years ago, cryptocurrency was a fringe concept embraced by the savvy few, with little mainstream appeal or awareness. The last few years have seen its public awareness skyrocket as the value per bitcoin has climbed well…
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“The People of Canada to-day are being taxed to pay interest on millions of dollars of fictitious capital”. -Sir William Mulock, Member of Parliament, In reference to the Canadian Pacific Railroad, 1895 Binding the East and West Sir…
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