In a World of Stupid People, Profits Will Still Exist

One might ask, “But how? Aren’t profits the result of shrewd business deals and wise choices by [greedy] CEOs and shareholders?” “Maybe, but probably not.” Economics is claimed to be married to the principle that people are “profit-maximizing”. I admit that I am guilty of furthering this notion. What I mean is that they behave … Continue reading In a World of Stupid People, Profits Will Still Exist

We Got It Wrong: Paul Romer and William Nordhaus share the 2018 Nobel Prize in Economics.

Alex: No! I was right! ….A year ahead of time. Clearly, I was just predicting the future. Paul Romer is a Nobel Laureate for “integrating technological innovations into long-run macroeconomic analysis.” Remember when I talked about the impact of innovations in South Korea in our 2017 predictions? How they were on the cutting edge with … Continue reading We Got It Wrong: Paul Romer and William Nordhaus share the 2018 Nobel Prize in Economics.

Who’s going to win the Nobel Prize: Our Picks… In Case You’re Interested

The Nobel Memorial Prize in Economic Studies is awarded on Monday, October 8, 2018, and your favorite commentators from ReasonablEconomics are here to give their predictions for who will take home the prize, glory, and potential $1.4million. Kenzi: My pick for the 2018 Nobel Prize goes to none other than, Daron Acemoglu for institutional analysis … Continue reading Who’s going to win the Nobel Prize: Our Picks… In Case You’re Interested

I Charged Too Little to Mow the Lawn

After the financial crisis of 2008 and 2009, my friend and I decided to start a landscaping business. Neither of us had gone to landscaping school nor did we have a particular affinity for lawn-mowers. (At least, not yet.) But hey, we thought, we live in Florida, grass grows like crazy most of the year, … Continue reading I Charged Too Little to Mow the Lawn