This week’s economic news summary includes the diner’s dilemma and marginal analysis, property rights in outer space, the Phillip’s Curve and unemployment.
One reason we have a labor force participation rate of 62.4 percent is because retirees, students, the disabled and people who care for family do not work.
Our everyday economic stories involve participation rates, human capital, signaling, ROI, money, price, austerity, personal income, monopoly and bubbles.
The NYC Miss Subways competition was about a lot more than pretty “girls” (as they were called). To become Miss Subways for a month, applicants had to submit a picture to the John Robert Powers Agency. From perhaps 1000 applicants,…