A constant upward trend in government social benefits. In other words, the government continues to increase the amount of money taken from one person (or borrowed from a future person) and given to others --regardless of who is president. Despite the increase in social spending, household income has increased over the long run. The negative … Continue reading Just Graphs
An interview piece on Healthline has a few experts discussing the coronavirus. One health historian claims that “In 1918-19, the seasonal influenza eventually tapered off on its own. Everything I understand about our current situation is that is unlikely.” Another expert claims that “We haven’t done a good job so far containing the virus. We … Continue reading A Thought on COVID-19 Not Being “Sustainable”
It is hard to say with any certainty, though my best guess would be no in the short run and probably in the long-run. In the short-run, say, five to 18 months, the aggregated price level will likely experience very little inflation. The long run, however, might be a different story, especially with healthcare. Price … Continue reading Will Prices Increase Once Businesses Reopen?
If you know Spanish, watch the video: https://www.facebook.com/watch/?v=873589819731339 The woman in the video and still image above, Lola, provides a moving soliloquy regarding the ongoing pandemic. She opens with the realization that "common sense" is not as common as we think. She goes on to say that those who have common sense are worthy of … Continue reading I’d Rather Have a Stuffy Nose
As we undergo measures of dealing with a completely exogenous--external--shock, this is like a dream-come-true scenario for teaching economics. For the time being, we no longer need to conjure up abstract stories to drive the point of the law of demand or how prices tend to find some equilibrium. We don’t have to explain the … Continue reading It’s Hard to Scream Louder than the Panicked