Weekly Roundup: From Free Trade to Expensive Airline Tickets

Our economic news summary includes Venezuela’s hyperinflation and Dutch Disease, the NFL’s gender deficiencies, free trade, and new marriage markets.

The (Dutch) Disease in Saudi Arabia and Venezuela

As in Venezuela and Saudi Arabia, the Dutch disease that an economy catches comes from too much dependence for revenue and jobs on one commodity like oil.

Naming the Weather

BMW had to apologize for bad weather.  It all began when their advertising agency decided to buy naming rights to a high-pressure area. Like hurricanes are named alphabetically in the U.S., high- and low-pressure weather areas that approach Central Europe…

A Unique Gift Idea

Would you like a bus stop named after you? In Chicago, you could do it. The message here is that naming opportunities have been created in order to raise money for municipalities. You could catch a train at an AT&T…

Tax Payers and Entitlement Receivers

I wonder if we should be concerned. Lecture 32 of “Thinking About Capitalism” from the Teaching Company looks at John Stuart Mill (1806-1873), James M. Buchanan (1919-  ), and Mancur Olson (1932-1998). Concerned with the impact of democracy on capitalism,…

Making Macroeconomic Decisions

One problem with macroeconomic policy is the inability to confirm that it does or does not work. With variables constantly in motion, an entire economy as your lab, and no way to keep anything constant, how to know if you…

Choosing Means Refusing

In yesterday’s Washington Post, Robert Samuelson reminded us that most developed nations will have a growing proportion of senior citizens. Comparing 2005 and 2030, for Greece, the 65 and older group will increase from 18% to 25%, for Spain, from…

Deficits and the Tragedy of the Commons

Pondering Greece, I wondered about the individual and the state.  Sometimes what is good for one person is bad for all.  That took me to a graphic of the federal budget in 2020 in which entitlements, which are good for…