With more austerity resistance to government spending cutbacks, Greece could again be heading for a sovereign debt default and a bailout.
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.
Three "Tear-Water" Graphs
The U.S. has had an economic recovery from the Great Recession with sluggish GDP growth, a worrisome output gap and slowly diminishing unemployment.
Chart of the Week: The Rare Disease Spending Dilemma
Our Sunday Chart of the Week Since our chart looks at Medicaid spending on rare diseases, we better start with Medicaid. It is complicated. Yes, Medicaid targets the poor and has federal and state funding. However, varying from state to…
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 have been told that it was when I was three years old. My earliest…
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, British economist John Maynard Keynes was reported to have crumpled up a pile of…
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 than not, if a pedestrian, a walker, or a biker needs to cross the…
Chart of the Week: To Which Job Will Your College Major Take You?
Our Sunday chart of the week Just some human capital facts today… Showing the proportion of people from a college major that go to a certain kind of job, the following graphics connect college majors with employment groups. The original interactive graphics…
The Difference Between India's Stories and Statistics
There is a village in Southern India called Kadapakkam. It had been a home to farmers and fishermen whose thatched huts had no running water and no electrical appliances. At traditional tea shops located at the side of the local, narrow and potholed road, you could meet a friend. One 62…
A Speedy Summary of Spending in the US Federal Budget
Right now, the Congress is supposedly debating the 2015 federal budget. Because the new fiscal year begins October 1, their deadline is September 30. But not really. 1996 was the last time the House and Senate punctually approved all necessary…