The impact of the economy on our voting patterns is about much more than inflation, unemployment, and how much the GDP has grown.
Whether looking at a self-driving car or your airline ticketing app, you can see how automation has begun to shift job activities.
Our everyday economics includes wages, externalities, productivity, income, tradeoff, taxes, fiscal policy, gender, human capital and comparative advantage.
A minimum wage hike causes labor intensive fast food restaurants to exit the market, capital intensive restaurants to enter and the number of jobs to drop.
Our everyday economics includes development, automation, taxes, fiscal policy, GDP, entitlements, entrepreneurs, negative externalities and environment.
Our Posts Roundup Sunday 3.01.15 Handy notes from Warren Buffett…more Monday 3.02.15 The basics of Greek tax evasion…more Tuesday 3.03.15 Insight about airline queues…more Wednesday 3.04.15 Why we subsidize Brazilian farmers…more Thursday 3.05.15 What an ATM can teach us…more …
A banking innovation that is more than a money machine, the ATM’s impact on bank tellers shows the impact of Joseph Schumpeter’s creative destruction.
This week’s everyday economics involves opportunity cost, regulation, behavioral economics, GDP, automation, innovation, supply and demand and productivity.