GDP problems include that it’s not calculated the same way in different countries, its data can be tough to gather, and its components omit important items.
Economic History
US economic history starts with the 13 colonies and the transition from communal to individual land ownership, continues with 19th century economic growth and takes us to the role of services during the 20th century. Involving government, consumers and businesses, at econlife, economic history provides more understanding of today’s economy.
One Reason We Can’t Believe in Innate Talent
Limiting potential economic growth, the myth of innate talent in disciplines like philosophy diminishes the pool of female and Afro-American human capital.
Can Economists See the Hot Hand?
With implications that extend beyond sports, believers in classical economics and in behavioral economics are debating whether players can have streaks.
How Men Act When They Outnumber Women
How gender ratios in the U.S. and China affect men’s financial behavior can be explained with supply and demand and behavioral economics from Gary Becker.
Understanding a New Tax Issue
With the House requiring dynamic scoring of tax legislation from the CBO, the bigger tax debate resurfaces on how much redistribution and spending.
What a Blind Taste Test Showed About Beer
Behavioral economic ideas show that product differentiation and consumer preference are more from branding than the taste of colas or beers.
Why the Metric Switch is so Tough
The expense and complexities of switching to the metric system have prevented the change, and have affected how standard weights and measures help globalization.
The Seven Ways We Pay For Free Parking
Including congestion, wasted gas, time and emissions, cheap parking creates negative externalities that variable pricing of parking spaces can eliminate.
Why Academy Award Winners Might Live Longer
Relating income inequality to the stress felt by low status Bolivian Tsimane men and academy award losers, researchers said that stress that harms health.
Italy and the EU: An Internet Story
Looking at internet connectivity as a part of the EU’s information infrastructure, we can see how Italy is behind and reflects member nation contrasts.