Since education creates positive externalities that fuel economic growth, understanding how to develop expertise through human capital formation is crucial.
Microeconomics
The Problems With College Ranking
Just like grading human capital, ranking college quality through a single number hides the subjectivity of the process.
Marijuana Money Problems
Colorado’s marijuana growers and dealers are wasting resources because banks and insurance companies will not act as their financial intermediaries.
A Solution for Too Few Doctors: More Patience
Decreases in supply, increases in demand and legislative price ceilings are resulting in “network adequacy” problems for U.S. healthcare systems.
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.
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 Nudge Toward a Goldilocks Savings Rate
We need to raise the low U.S. savings rate with new incentives like a lottery on savings deposits because households and business investment need savings.
Bedtime Stories… About the Economy.
From statistics and a satellite image of the world at night, we can see that developing countries lack the electrification they need for economic growth.
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.
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.