James Buchanan: Surprisingly, Politicians Are Humans

With a simple discussion on how stuff gets done in the political arena, it is easy to understand why it’s so hard to achieve the intended outcomes of that “stuff.” Everything is riddled with side-deals, loopholes, and compromises that detract or cause larger problems than the one(s) they are trying to solve. Continue reading “James Buchanan: Surprisingly, Politicians Are Humans”

Sadly, economic thinking is still marginal

By Diego Zuluaga

One of the few but crucial advantages that economists have over the noninitiated in attempting to navigate the world is the recognition that the optimal amount of a ‘bad’ – such as pollution, crime, and obnoxious advertising – is rarely zero. Continue reading “Sadly, economic thinking is still marginal”

Minneapolis May Experience An Uglier Minimum-Wage Fiasco Than Seattle

Minneapolis recently decided to jump on the minimum-wage bandwagon. This bandwagon is led by the “fight for $15” activists who are attempting to increase the minimum wage to $15 per hour for the entire country. Since a blanket minimum wage increase at the federal level is not possible, they are going to localities instead. Continue reading “Minneapolis May Experience An Uglier Minimum-Wage Fiasco Than Seattle”

Franco Modigliani: How to Survive Shark Tank

One thing I enjoy doing in my spare time when I am not busy being nerdy with economics is watching YouTube clips of ABC’s hit show, Shark Tank. In this show, entrepreneurs are the contestants and the “sharks” are big ballin’ investors. Continue reading “Franco Modigliani: How to Survive Shark Tank”

Richard Stone: Accounting is Coming

Accounting. A word that has struck terror in many an economists heart. Seeing so much math with zero theory involved usually causes a lot of people to not pay attention, myself included. However, some accounting contributions were important enough to warrant winning a Nobel prize. We shouldn’t take that lightly, and hopefully by the end of this we’ll at least grudgingly accept accounting. Continue reading “Richard Stone: Accounting is Coming”