There are few economic principles that are fully grasped by the average person. After all, economics is a science that often leads to counterintuitive observations and so it is unsurprising that economic principles are generally not correctly applied. It also happens to be unnecessary for most people to understand much of economics in order to economize successfully and do well for themselves in their day-to-day lives. However, understanding economics becomes significantly more necessary once a community is asked to vote on public policy proposals.

The United State is the richest country on Earth for one reason: capitalism.  Nobel Prize winning economist Milton Friedman said that "history suggests only that capitalism is a necessary condition for political freedom."  In other words, for a people to be free and for a people to be able to choose its representatives, those people must have economic freedom.

On Sunday September 23, Fargo Forum editor Mathew Von Pinnon wrote a column in the paper entitled Public-private partnerships have downside on campuses.  Here is a quote from that letter:

The two universities’ alumni foundations will pay for the new homes, and as usual, supplement the presidents’ public salaries of $290,000 to $325,000. To what level alumni will supplement the salaries, we don’t know.

WIth the unfortunate collapse of the Interstate 35 bridge in the Twin Cities, the debate about infrastructure has been renewed.  What happened in Minnesota could also happen to one of the bridges in North Dakota.  The danger to North Dakota's bridges is not only on the major overpasses in Fargo or the bridges that span the Missouri River, but in the small bridges taht have to withstand farm machinery, as well.  The fact is that every bridge in North Dakota is a bridge worth maintaining.    

With the tragedy in the Twin Cities unfolding over the last couple days, North Dakotans have been digging into their own government's activities regarding basic infrastructure and public safety.  A close look at North Dakota's recent past suggests that some in power have been using transportation funds for pork projects under the supposed guise of "economic development."

Imation, an Oakdale, MN manufacturer of floppy disks, has recently announced that they are closing their plant in Wahpeton leaving over 350 people without jobs.  Immediately, talking heads Ed Schultz and Vern Thompson on their show News and Views railed against Imation for their decision to close the plant.  One issue that has particularly irked Schultz and Thompson is the fact that Imation has received $10.5 million in grants, tax breaks, and other incentives from city, state, and federal sources, and now they are taking that money and leaving.  This begs a larger question: why did Imation get the money in the first place?