How (Not) to Eliminate Face Mask Shortages

Whether looking at rationing, price caps, trade restrictions, or the market, the problem of face mask shortages is tough to solve.

A Labor Day Look at How Much We Work

Comparing the U.S. workweek with South Korea and five European nations reveals how much we do at night and during the weekend.

(Almost) All You Need To Know About Quotas

From sleeveless jackets to begging brides and young sports teams with no uniforms, the complexities of quotas can produce a slew of unpredictable results.

The Countries With the Best Internet

Whereas we can rank countries’ internet access and correlate internet access to economic growth, quantifying the internet /GDP connection is impossible.

Homework? It’s About the Economy…

Why would France want to ban homework? President Hollande has said that less homework means more equality. At home, income makes a difference. Higher income families have children with higher test scores and more help with homework. They have their…

The Fabric of Free Trade

The roof of the big-box store near your home could contain fabric that was made in Greensboro, N.C. Transported in rolls that are 12 feet wide and 5,000 yards long, this material is also made in South Korea. Until now,…

Free Trade

KORUS has been in the news. The Korea-U.S. Free Trade Agreement, negotiated in 2007 but not ratified by Congress, was in trouble. One reason was Ford. With a 1% share of the South Korean car market, U.S. automakers want more.…

Silver Job Fairs

It is more likely that a 75 year-old South Korean will be working than a 60 year old Frenchman. According to OECD (Organization of Economic Cooperation and development) statistics cited by Floyd Norris, workers in South Korea and Japan remain…

Supply, Demand, and Kimchi

The kimchi mini-crisis is a perfect tale of supply and demand. Kimchi, “a fiery cabbage-based staple of Korea,” is typically made from “seasoned, fermented napa cabbage”. Farmers supply the napa cabbage for kimchi and demand comes from restaurants and consumers.…