At the official exchange rate, Venezuelans pay 5 cents a gallon for premium gasoline while the real price is closer to one half penny a gallon. The dark purple country at the northern tip of South America (below), Venezuela has the…
Macroeconomic Measurement
B(T)FF… Best Trading Friends Forever
We can say that Mexico believes her top trading partner is the United States because the value of her exports to the US (2013: $370,826,831) added to the value of her imports from the US (2013: $370,746,056) is exceeded by none of her other…
Tall and Short Populations
Princeton economist Angus Deaton estimates that it will take 500 years for Indian women to reach the height of English women. In The Great Escape, Dr. Deaton explains that a population could be short because of nutrition or disease. When babies…
The Plight of the Night Owl
I must start with my bias. I am a night owl. So too were Winston Churchill and Charles Darwin, James Joyce and Glenn Gould. In one interview, Ann Beattie said, “I really think people’s bodies are on different clocks. I…
What Can We Learn From Downton Abbey Economics?
Downton Abbey can tell us a lot about the British economy…but not everything. We know the aristocracy is struggling. Many of the 700 families who had controlled 80% of all acreage during the 1870s faced financial collapse 50 years later.…
The Cost of Conservation
By Madeleine Vance, guest blogger and student at Kent Place School. Saving water is supposed to allow us to cut down costs. For the drought-stricken city of Wichita Falls in Texas, this is not the case. In 2013, Wichita Falls’s…
Problems With the Unemployment Rate
Almost everyone is saying the unemployment rate is a problem. At 6.6% and with job creation at 113,000, the numbers reflect a troubled jobs market. The problem, though, might be the statistic. We began collecting employment statistics during the 1880s.…
A Surprising Connection Between Tennessee and the Affordable Care Act
There is probably a tradeoff between health insurance and the demand for jobs. During 2005 in Tennessee, the demand for jobs increased when 170,000 people lost their Medicaid health insurance coverage. Researchers call that jobs/health insurance tie, the “employment lock.” Looking at…
1930s Noise Pollution
In 1932, the NYC Noise Abatement Commission received a letter from Mr. N. Schmuck of 137 Milton Street in Brooklyn about the noise from a nearby pickle factory. Other 1930s noise complaints included early morning ice deliveries, “ear splitting shrieks…
Brazil’s World Cup To-Do List
Preparing its transportation infrastructure for the 2014 World Cup and the 2016 Olympics, Brazil has one giant to-do list. In the air and on the ground, it has the participants, the officials and the fans that have to be moved around.…