Greece’s New Bailout Problem

As Greek bailout talks continue, European monetary officials are also concerned that a Greek statistician could receive a life sentence for reporting accurate macroeconomic statistics.

The Downside of a Greek Bailout

The Greek response to new bailout talks and more fiscal austerity ranged from a Scrooge Christmas card to a larger underground economy.

Weekly Roundup: From Fake Stats to Slippery Glue

Our Posts Roundup Sunday 3.22.15 The bundles that make life pleasant…more Monday 3.23.15 Where American cars are made…more Tuesday 3.24.15 What March Madness really represents…more Wednesday 3.25.15 Why Sunday shopping matters…more Thursday 3.26.15 Making ketchup that glides…more   Friday 3.27.15 How…

From Estonia: Cheap International Calls, Priceless Tweets

Estonia’s market economy resulted from eurozone membership, human capital and infrastructure development and fiscal discipline.

Computer Models: Questions for Mathematicians and Economists

Reading about the 4-color theorem for maps, I realized it was about a lot more than math. My story starts with an recent obituary about one of the mathematicians, Kenneth Appel, who first proved the 4-color theorem. Completing a quest…

Confirmation Bias: How Might Basketball Provide Economic Insight?

Although fans think a basketball player can have “hot hands,” psychologists disagree. We might just be displaying our tendency to select facts that support what we already believe–our confirmation bias. Citing the “hot-hand phenomenon,” many basketball fans believe that players…

GDP: Where is the World Economy Going?

Yesterday, the UN published a preview of its world economic outlook. While projections are always debatable, their graphs provide a snapshot of key economic issues. GDP Outlook: Oil Prices: Grain Prices:   These projections and comments from a Société Générale Report…

Greek Privatization Progress

Will international creditors say yes again to Greece after today’s meeting in Brussels? Part of the deal involves selling or leasing whatever the Greek government owns. The proceeds reduce the debt and meanwhile, by building roads and business parks, resuscitating ports and…

A New Greek (Economic) Fuel: Olive Oil

The Greek government needs its newest bailout infusion. But in return, austerity would include (among many other requirements) cutting certain civil servants’ salaries by as much as 35%, raising the retirement age again but this time to 67, and plunging the…

More Greek-German Humor

This Monty Python Greek-German soccer match is wonderful. Thinking of the euro zone, perhaps it also says something about each country’s personality. Sources and Resources: The Monty Python video was from YouTube, here.