The lottery that Slovakia uses to catch VAT tax dodgers reflects fiscal challenges that eurozone countries like Germany and the Netherlands do not face.
Why the Russian Government Loves Vodka
For 350 years, the Russian government has optimized the money it gets from vodka sales by creating a monopoly that takes advantage of inelastic demand.
The Long Life of the 3 to 4 Minute Song
Moving from records to digital, the music industry has undergone creative destruction but the length of a song between 3 and 4 minutes has been the same.
Where Do the Slimmest Americans Live?
Because obesity related diseases increase entitlement spending, should government use penalties rather than incentives to slim the US population?
Weekly Roundup: From Wimbledon to Estonia
Our weekly roundup includes stories from everyday economics that relate to the market, the minimum wage, the price system and productivity & human capital.
From Estonia: Cheap International Calls, Priceless Tweets
Estonia’s market economy resulted from eurozone membership, human capital and infrastructure development and fiscal discipline.
A Tale of Two Cities… and One Mall
Half of the Valley Fair Mall is in Santa Clara, CA while the other half is in San Jose. Because San Jose has a minimum wage of $10.15 while Santa Clara’s is $8.00, the stores at the mall have a problem. Minimum…
Using Prediction Markets to Catch Match-Fixing at Wimbledon
When supply and demand in tennis match prediction markets created illogical prices, researchers said that 3 matches at Wimbledon might have been fixed.
Economic Thoughts About Presidential Relaxation
In the Great Recession (Bush) and the Panic of 1907 (Roosevelt), we saw that the U.S. President need not appear to be running monetary and fiscal policy.
Bedtime Stories… About the Economy.
From statistics and a satellite image of the world at night, we can see that developing countries lack the electrification they need for economic growth.
