Seward’s Folly

Source: Library of Congress According to the Library of Congress, “On March 30, 1867, the United States reached an agreement to purchase Alaska from Russia for a price of $7.2 million. The Treaty with Russia was negotiated and signed by Secretary of State William Seward and Russian Minister to the United States Edouard de Stoeckl. Critics of the deal to purchase Alaska called it ‘Seward’s Folly’ … [Read more...]

Gene McCarthy’s 100th birthday

  Gene McCarthy was born 100 years ago today. He spent most of the first 30 years of his life in central Minnesota, growing up in Watkins and then attending and teaching at St. John’s University.  For a time he was a member of St. John's Abbey as a novice. Al Eisele noted, "McCarthy spent nine months as a novice before deciding he didn’t have a religious calling and left the monastery, … [Read more...]

Transfer programs work: evidence from food stamps and mothers pensions

Source: Wikimedia Two studies in the latest issue of the American Economic Review analyze the connections between transfers to low-income families and the long-term health and welfare of children in those families.  The conclusions directly contradict the idea that programs such as Aid to Families with Dependent Children and food stamps don’t help those they are intended to aid and lead to … [Read more...]