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Q: What do selling kidneys, tossing dwarfs, and eating horses have in common?
A: I don’t know- let’s ask Professor Al Roth.
Unfair. Undignified. Inappropriate, unprofessional, distasteful—and most of all, repugnant.
To the wonder and surprise of Alvin E. Roth, a Harvard economist, these harsh words are often hoisted to describe an important task of his: [...]
Long time readers may recall the think tank cartoon I posted a while back:
The Heritage Foundation is on the conservative side of this brawl, and I must say that it’s amazing how all of the objective, fact-based research that comes out of these sorts of organizations specifically supports the conservative ideology. (From what I’ve [...]
Tags: Education · Markets · Policy
A few weeks ago, I put the following on my Facebook page out of some combination of annoyance and amusement:
Apple’s market cap: 353 billion, and people are leaving flowers and notes for Steve Jobs at Apple stores.
Bank of America’s market cap: 62 billion, and people are marching on its offices in protest.
Capitalism- it can be [...]
When goods and services aren’t (or can’t be) limited to paying customers, weird things happen in markets. We can end up with public goods such as lighthouses and fireworks displays, or we can get common resources such as (crowded) public parks or fishing waters.
The problem with these types of goods is that, if consumption [...]
Tags: Econ 101 · Environmental Econ · Markets
I’m so glad that I’m not the only one who wonders how Edible Arrangements continues to exist:
WALLINGFORD, CT—Upending more than two centuries of free-market theory, leading economists across the globe announced Thursday that the fundamental principles of capitalism had been “irrefutably disproved” by the continued existence of the designer fruit-basket company Edible Arrangements.
According to experts, [...]
Tags: Just For Fun · Markets
