Economic Thinkers

October 2, 2014
The banks and insurance companies are financial intermediaries that avoid legal marijuana business.
Published by Elaine Schwartz at October 2, 2014
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Marijuana Money Problems

Colorado's marijuana growers and dealers are wasting resources because banks and insurance companies will not act as their financial intermediaries.

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September 28, 2014
Everyday economics for government pension plan
Published by Elaine Schwartz at September 28, 2014
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When You Can Expect to Be Most Creative

Knowing about how and when creative people achieve optimal productivity is important because of the connection between human capital and economic growth.

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September 24, 2014
Everyday Economics of the iPhone 6 supply chain
Published by Elaine Schwartz at September 24, 2014
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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.

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September 3, 2014
Arthur Ashe Stadium
Published by Elaine Schwartz at September 3, 2014
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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.

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August 29, 2014
Weekly Economic News Roundup and airplane seat
Published by Elaine Schwartz at August 29, 2014
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Solving the Airplane Seat Problem

According to Ronald Coase, if reclining in an airline seat creates a negative externality, both parties can negotiate because the transaction costs are low.

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August 28, 2014
Starbucks tall latte index
Published by Elaine Schwartz at August 28, 2014
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The Path of the Shifting Center of Global Economic Power

Led by Chinese economic growth and other emerging markets, the center of economic gravity is moving eastward from the developed world to Asia.

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July 31, 2014
Violating the sanctity of contracts, Argentina has again defaulted on her sovereign debt and diminished her ability to borrow.
Published by Elaine Schwartz at July 31, 2014
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Argentina's (Long) Default History

With Argentina again defaulting on her sovereign debt, she is violating the sanctity of contracts and lessened her borrowing ability at home and globally.

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July 28, 2014
Calculating the GDP involves many decisions and using it can be controversial as in Greece.
Published by Elaine Schwartz at July 28, 2014
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Why the GDP is Much More Than a Number

Seemingly just a statistic, how we calculate the GDP and how it is used can be controversial and affect the lives of millions of people.

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July 17, 2014
JS Mill's support of redistribution from taxation in the AFA
Published by Elaine Schwartz at July 17, 2014
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John Stuart Mill on Affordable Health Care

A child prodigy, 19th century economist John Stuart Mill said in his Autobiography that, “I have no remembrance of the time when I began Greek; I […]

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July 16, 2014
Weekly Economic News Roundup and federal spending
Published by Elaine Schwartz at July 16, 2014
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John Maynard Keynes and the Generational Impact of Entitlements

Before seeing how we are benefiting unequally from entitlement programs like Social Security and Medicare, let’s start with some history. During 1934, with unemployment high and production low, […]

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July 14, 2014
traffic lights and Adam Smith's Laissez-faire
Published by Elaine Schwartz at July 14, 2014
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Adam Smith and Traffic Lights

Located 30 miles from Cape Cod, Massachusetts, the island of Nantucket has no traffic lights. Instead, drivers respond to stop signs, rotaries, and courtesy. More often […]

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July 4, 2014
Weekly Economic News Roundup and economic independence from Alexander Hamilton
Published by Elaine Schwartz at July 4, 2014
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Celebrating Economic Independence

Yes, the United States declared independence from Great Britain on July 4, 1776 and won the American Revolutionary War. But still, we were not truly independent. George Washington’s Secretary of […]

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