Happy Birthday to a Great Father (of our economy)

When you sing happy birthday to Alexander Hamilton today, please just think of this upward sloping (logarithmic) economic growth line: Today, 257–or maybe 259–years ago (no one is positive) on the Caribbean island of Nevis, Alexander Hamilton was born. Only…

Innovation: Happy Birthday Moving Assembly Line!

Yesterday, the moving assembly line celebrated its 100th birthday. Before October 7, 1913, in one place, a car was built by teams of workers. The chassis took 12 hours to finish while magneto production required 15 minutes and 29 workers.…

Happy Birthday Texting!

Sometimes, you never know… At first, it was just a “Merry Christmas” message sent from a computer terminal to a cell phone. The year was 1992, the firm was Vodafone, and the goal was just a better way for secretaries…

Happy 100th Birthday IBM!

Imagine the challenge of implementing the first Social Security system in 1937. 27 million employees and their employers had to be taxed. The basic idea was to collect the money and then redistribute it to current retirees. So everyone got…

Why Birthday Cat Is Grumpy

When deciding whether the Happy Birthday song has a copyright, we are really debating how broad or narrow intellectual property rights should be.

Why Grumpy Cat Can Finally Smile

Narrowing intellectual property rights, a court recently decided that the “Happy Birthday” song could enter the public domain because no one owned it.

How Stock Markets Have Changed

Celebrating its 125th birthday, we can use the Dow Jones Industrial Average to see how the U.S. economy has changed

Weekly Roundup: From Skyscraper Shadows to Trendy Foods

This week’s everyday economics includes property rights, trade, creative destruction, entitlements, tradeoffs, conservation, externalities, price, and markets.

What We Need to Know About Uber

Knowing that it needs to eliminate its driver shortage, Uber is trying to increase supply by offering higher wages.

Why Tesla is Like a Model T Ford

Although they are separated by a century, the Model T Ford and Tesla are rather similar when we look at their leadership and production.