Five Facts About Chinese Capitalism

Through six facts about China’s political capitalism, we can see some of its economic strengths, weaknesses, contradictions, and history.

What North Korean Workers Did With Their Choco Pies

While the North Korean economy is centrally planned, the Choco Pie is a tiny example of the how a market system develops.

What We Mean by Socialism

Knowing the different meanings of socialism and capitalism can help us better understand what we and presidential candidates support.

A Russian Wheat Story With an Unexpected Ending

The story of a contemporary Russian wheat farmer is rather surprising when we look back at how the Russia economy has changed during the past 120 years.

The Mystery of the North Korean Economy

Looking at the North Korean economy, economists have to become detectives because the government refuses to share basic statistics.

Weekly Roundup: From Traffic Congestion to Job Evaluation

Our everyday economics includes central planning, unintended consequences, comparative advantage, transportation infrastructure, cost & developing nations.

How a Performance Metric Can Lead to a Giant Nail

In government, business and at home, the performance metrics we create always are accompanied by incentives that create unintended consequences.

Why Government Cannot Trash Waste Management

Central planning through large firms could not replace the consistency and environmental benefits of a zabaleen system for trash removal In Cairo, Egypt.

Chinese Basketball and Adam Smith

It is called the “womb to tomb model.” Selected as young children because of their exceptional height, future Chinese basketball players are educated separately. Whereas traditional Chinese schools have few, if any, extracurricular activities, their sports schools focus on athletics.…