Elaine Schwartz
4570 Articles50 Comments

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.

Impossible But Funny Congressional Testimony

You might enjoy looking at the Onion’s parody of Ben Bernanke’s congressional testimony. It never can or will happen this way. And yet, while the testimony is fictitious, the statements about money are based on its actual definition. The article…

Is Law School A Good Investment?

Looking at a paper by law school professor Herwig Schlunk reminded me that attending law school is similar to inventing a new machine. Both require an initial investment, both take several years to complete, and both will generate a private…

The Impact of the Vammas

What is 68 feet long, has a giant blade in front for plowing, massive sweeper brushes in the middle, and a 452 MPH wind blowing capacity in the rear? A Vammas. Imported from Finland, the Vammas is used by Logan…

The Ethical Economy

During a recent discussion at Trinity Church (near the NYSE) Susan Lee, an economist, and The Archbishop of Canterbury spoke. Both sought a better society. Both wanted a wealthier society. Then though, they diverged. Summing up each one’s perspective, Dr.…

A Fourth Monetary Policy Tool

The chasm between economics textbooks and real life has grown larger. It is just tough to keep up. Looking at monetary policy, the most typical tool used by the Federal Reserve takes students so very logically to the Federal Open…

Recycling Garbage

A recent article in SF Gate focused on Berkeley’s garbage problems. Because of Berkeley’s commitment to recycling, the revenue it receives from garbage collection has dropped precitously. Less garbage means more job and service cuts. If people everywhere are recycling…

The Debate Between Equality and Efficiency

Speaking about the current political climate in “The Populism Problem”, James Surowiecki, New Yorker columnist, cites our contradictions: • Solve unemployment but cut the deficit • Implement health care reform but limit government • Help your society but protect yourself…

Blanket Competition

Hearing that American Airlines was charging eight dollars for a blanket and pillow brought back memories of airline deregulation, Eastern Airlines, and People Express. Does anyone remember the Eastern Shuttle? With a government given monopoly on flights between LaGuardia and…

Random Snow Stories

Property rights When you shovel a parking space, does it remain yours when you pull out? In Boston, if you shovel out your car during a snow emergency, the space is yours for at least two days. Just “reserve” it…

Not Always Dismal

From assorted sources, I share the following: 1. Poetry on the housing crisis from Karl Case (the Case in Case-Shiller Home Price Index) An excerpt: Fannie and Fred were always ahead, Then Countrywide got in the fray. Then Lehman and…