How Legal Marijuana Could Make the Canadian GDP Too High

With marijuana legalization, Canada has had to revise 60 years of its Gross National Product (GDP) to avoid misleading numbers.

Econlife Quiz: Do You Know Your U.S. Presidential Election Economics?

It’s always handy to sound like you know your economics. So, after taking the econlife U.S. Presidential Election Economics Quiz (below), based on the third and final debate, see if you need the following top ten list: Whatever the question,…

Weekly Roundup: From Fed Humor to the Wisdom of Warren Buffett

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  …

How Tax Evasion Relates to Porsches

A big part of the shadow economy, the tax evasion in Greece that prevails among the self-employed substantially ups the deficit and distorts fiscal policy.

Greek Taxes

Having added property taxes to electric bills, the Greek government is shutting off the power to people who do not pay what they owe. The response? In a northern suburb of Athens, a mayor has assembled a group of electricians…