Because middling food like hamburgers is consumed by most people in the affluent West, what we eat does not necessarily reflect inequality or social status.
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Using a Fat Tail to Describe Stock Market Risk
When the unexpected occurs and changes our view of stock market risk, we call it a black swan or fat tail because it is far from the mean of a bell curve.
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.
A Poaching Problem that Regulation Hasn’t Solved
The market solutions and regulatory approaches used to solve the problem of elephant poaching have not worked for wildlife conservation in Africa.
Four Ways to Understand Greek Debt
An historical perspective and a look at what is owed, to whom and when provides insight about the culture and complexities of Greek sovereign debt.
The Dangerous Side of Economics
Because he revised his country’s inaccurate deficit and received Eurostat approval, Greece’s chief statistician might be prosecuted for “breach of faith.”
Why the Metric Switch is so Tough
The expense and complexities of switching to the metric system have prevented the change, and have affected how standard weights and measures help globalization.
Three Graphs That Tell the Whole Oil Story
Following the law of supply, U.S. shale oil firms will lower output because OPEC is letting price plummet but airlines on demand side like lower prices.
The Benefits of Perpetual Federal Debt
Very long term federal debt that has no date for redemption like UK First World War bonds and U.S. Revolutionary War debt depend on good public credit.
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.