The Mystery of the Disappearing Workers

Partially reflecting more women in the labor force, the participation rate rose from the 1970s until recently but now the mystery is why it is falling.

Fries and Chips: Potato Stories

When firms use research and development (R&D) for french fries and potato chips they create a springboard that Harvard’s Clayton Christensen explains.

When You Can Expect to Be Most Creative

Knowing about how and when creative people achieve optimal productivity is important because of the connection between human capital and economic growth.

Weekly Roundup: From Airline Seats to Earthquakes

Our weekly roundup includes everyday economics that relate to opportunity cost, corporate taxation, GDP, monopolistic competition & negative externalities.

Can an Earthquake Be Good for the Economy?

19th century economic writer Frederic Bastiat warned that a disaster spending GDP boost is misleading because of unseen sacrificed economic activity.

Three "Tear-Water" Graphs

The U.S. has had an economic recovery from the Great Recession with sluggish GDP growth, a worrisome output gap and slowly diminishing unemployment.

Joseph Schumpeter: Economic Models and Eileen Ford

Eileen Ford died this week. An entrepreneur who transformed the business of beauty, Eileen Ford’s talent was pairing a face with a camera. During its earlier years, the women her modeling agency represented included Martha Stewart, Ali MacGraw, Suzy Parker, Candice Bergen, and…

The Difference Between India's Stories and Statistics

There is a village in Southern India called Kadapakkam. It had been a home to farmers and fishermen whose thatched huts had no running water and no electrical appliances. At traditional tea shops located at the side of the local, narrow and potholed road, you could meet a friend. One 62…

Seeing Why African Development Is So Tough To Get Started

I just finished and do recommend The Idealist: Jeffrey Sachs and the Quest to End Poverty. Written by a Vanity Fair journalist, the book is a good read. On one level, The Idealist is about a dynamic economist who raised $120 million (and then…

Do Real Entrepreneurs Have to be Rich?

Because startups tend to be small, do not focus on innovation nor growth, they are a less accurate measure of entrepreneurship than self-made billionaires.