Elaine Schwartz
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Elaine Schwartz has spent her career sharing the interesting side of economics. At the Kent Place School in Summit, NJ, she has been honored through an Endowed Chair in Economics and the History Department chairmanship. At the same time, she developed curricula and wrote several books including Understanding Our Economy (originally published by Addison Wesley as Economics Our American Economy) and Econ 101 ½  (Avon Books/Harper Collins). Elaine has also written in the Encyclopedia of New Jersey (Rutgers University Press) and was a featured teacher in the Annenberg/CPB video project “The Economics Classroom.” Beyond the classroom, she has presented Econ 101 ½ talks and led workshops for the Foundation for Teaching Economics, the National Council on Economic Education and for the Concord Coalition.

Where Women Do the Most Unpaid Work

In Beijing, unpaid housework just got a price. Because of their new Civil Code, a Chinese judge decided that a divorce settlement had to include compensation for the former wife. He said that in addition to monthly alimony, she was…

How a Fake Country Fooled the Big Banks

As an emerging markets investor in 19th century South America, it was tough to find out what was really happening. At best, up-to-date news had a three month journey. Even with good winds, the round trip between London and South…

How the Best and Worst Airlines Are Different

The rules used to be that, for no extra charge, you could fly with your (untrained) emotional support animal (ESA). As long as you had a corroborating letter from a health professional, it was okay with most airlines. The pig…

How Free Stock Trades Can Be Expensive

Behavioral economist Dan Ariely demonstrated the impact of “free” in an experiment that he described in Predictably Irrational. At first, participants could choose a Hershey’s Kiss for a penny or a Lindt Truffle for 15 cents. Selected by 73%, the…

How a Citigroup Blunder and a Texas Blackout Are Similar

Last August, Citigroup accidentally wired a $900 million payback to some lenders. Now, Texas is experiencing catastrophic power outages and water shortages. Both could be similar. Outdated Infrastructure Citigroup Our story starts in 2016 with a cosmetics company that needed…

Our Weekly Economic News Roundup: From Sports Fans to Superheroes

Weekly Roundup​​​​​​​​​​​ ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ Sunday 2.14.20 What your economic Valentine says… Monday 2.15.20 When fans affect athletes, coaches, and referees … Tuesday 2.16.20 How a catalytic converter is like a penny… Wednesday 2.17.20 What we need to know about the China…

February 2021 Friday’s e-links: From Mars to North Dakota

Last updated 2/19/21 Every once in a while, (and sometimes each day) I listen to a great podcast, enjoy an article, or see a good video that I want to share with you. I like to think of them as…

Where We Lost 20,507,518 Years From COVID-19

In addition to at least 1,279,866 deaths in 81 countries as of January 6, 2021, the devastating impact of COVID-19 can be seen through a YLL, years of life lost, lens. COVID-19 Impact In the world, the average lifespan for…

The Thousands of Marvel Superheroes We Will Meet

When Disney bought Marvel, it wound up with the rights to 7,000 characters and, as they described it, perhaps 20 years’ worth of worlds to explore. Meet, for example, Doorman. First introduced in 1989, Doorman is a class-10 teleporter (according…

A China Trade Deal Update

Tariffs and trade deals can have unintended consequences. The Trump tariff war was not supposed to send jobs to China. However, Tesla responded in 2018 to China’s 25% retaliatory tariff on U.S. autos with a quickly completed plant in Shanghai.…