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Greg Mankiw refers to this as “Economic Principle Number 5: Trade can make everyone better off”:
Trade is important because, without it, it would be pretty difficult for some of us to survive only consuming what we produce well, especially those of us who haven’t figured out how to eat economics lessons yet. Technically, however, [...]
Tags: Economic Growth · Just For Fun
I’ll give you a hint…via @joshorton:
I’ve been waiting a long time to be able to relate economics to Animal House, so I am very excited about that right now. What I am not excited about is, well, the job numbers. From the Bureau of Labor Statistics:
Nonfarm payroll employment was unchanged (0) in August, [...]
Tags: Economic Growth · Macroeconomics · Policy
Last weekend, I went to Cape Breton to give a talk at a TEDx event. In case you don’t know, Cape Breton is wayyyy on the eastern part of Nova Scotia, and isn’t particularly flush with convenient flights into the area. So my weekend looked something like this:
This observation is actually kind of [...]
Tags: Books · Economic Growth · Fun With Data · Policy
I’ve never really disputed the perception that economists are socially awkward/eccentric/autistic/etc., myself included to some degree. Personally, I have a particular knack for completely ruining jokes by adding something of the form “actually, *insert random fact here that indicates that the joke is technically incorrect*.” I’m a joy to have at cocktail parties, [...]
Tags: Economic Growth · Just For Fun · Macroeconomics
