Called laissez-faire, Adam Smith’s prescription for less government in the economy relates to an island with no traffic lights.
When We Don’t Need Traffic Lights
Having recently driven in Manhattan (NYC) and now on Nantucket (an island located 30 miles from the coast of Massachusetts), I’ve been pondering the difference a traffic light can make. In NYC, the traffic lights are constant signals from government.…
Why We Have a Chores Gap
Especially evident during pandemic lockdowns, at home we have a chores gap that determines who does the housework.
Why You Should Bet On a Vaccine
Giving us unbiased insight about the future, vaccine prediction markets can help us predict when the economy could return to normal.
Why Water Is a Worry
Looking at Cape Town, South Africa and 12 U.S. cities we can see why the basic water tradeoff involves a choice between conservation and affordability.
A Simple Look at the World’s Most Complex Economies
To its detriment, the U.S. might have insufficiently recognized the impact of China’s economic complexity in the U.S. China trade deal.
What Presidents Added to Thanksgiving Economics
From George Washington to Abraham Lincoln and Franklin Roosevelt to George H.W. Bush, U.S. presidents have influenced Thanksgiving economics.
Astronomically Different Prices for an Apollo 11 Videotape
Sold twice at auctions, the two prices of the Apollo 11 videotapes were astronomically different because of changes in demand and supply.
Why Did the Pedestrian Cross the Road?
In NYC and in Nantucket, Massachusetts, drivers respond to different incentives because Manhattan has traffic lights while Nantucket does not.
What We Mean by Socialism
Knowing the different meanings of socialism and capitalism can help us better understand what we and presidential candidates support.