The Jobs That Politicians Lose Because of Globalization

Employment in Alabama’s 5th Congressional District has been hit hard by China. According to one estimate for 2001 to 2011, 3.77% of all jobs in the district were displaced because of manufacturing layoffs. Also, the moderate Republican congressman representing the 5th District lost his…

What Do Coffee and Pencils Have in Common?

Our freshly roasted cup of coffee is the result of a coffee supply chain that depends on prices that create production and distribution incentives.

The Real Eurozone Problem

Although people in the eurozone want a single currency and their leaders want unity, monetary union problems create political distrust and disunity.

Why a Dollar Coin Might Not Be Money

In the U.S. the Federal Reserve tried to introduce metal dollar coins into the money supply but currency demand indicates that people prefer paper.

What Do iPhones and Pencils Have in Common?

Whether looking at the supply chain for a pencil or an iPhone 6, we see globalization because price system incentives create cooperation.

The Price System: Can You “Pay What You Want?”

In selected cities, Panera Bread is letting you decide what to pay for a bowl of turkey chili. Knowing that that the firm will cover its costs and the rest will go to charity, many people are paying more than…

Election Economics: What To Know For The First Presidential Debate

Presidential debate moderator Jim Lehrer said there would be six 15-minute segments in the first presidential debate on October 3rd. Devoting the entire first half to “the economy,” he will also cover healthcare, the role of government, and “governing.” Like the…

More Recyling Matters

Aluminum recycling is in the news because of a break-up. Together, Alcoa and Novelis (owned by HindalCo, an Indian firm) had been collecting and recycling cans–40 billion last year. But no more. Now, competing for used cans, each firm will…

The Fed Debate

10 years ago, the future Federal Reserve Chairman Ben Bernanke said to Nobel laureate Milton Friedman, “Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.” What won’t they…

Election Economics: Meeting Paul Ryan’s Economic Muse

People tend to ask, “Who??” when Friedrich von Hayek is named as Paul Ryan’s economic muse. Our purpose right now is to get to know some Hayek basics to see what Ryan brings to the Romney/Ryan candidacy. Austrian born, a…