I suspect that my new LG washing machine was more expensive than it should have been. Made by a South Korean firm, this washing machine (and others like it) was the target of a complaint that Whirlpool filed with the US Department…
Income Tax History: Timeless Issues
In 1789, Benjamin Franklin said that “…in this world nothing is certain but death and taxes.” With taxes, we can also be certain that the system will be complex and people will question its fairness. Complexity: Because professional athletes pay…
Big Macs and Currency Manipulators
In China, a Big Mac costs close to the equivalent of $2.44. That same burger in the US is $4.20. The basic idea is PPP, purchasing power parity. The dollar can buy more when the yuan is undervalued. And President…
Playing Chicken With China?
Yesterday’s headlines about the US taking China to the World Trade Organization (WTO) for unfair auto and auto parts subsidies took me to chicken feet and The Economist’s Sinodependency Index. Knowing the major firms that depend on China for revenue…
The Norwegian Butter Crisis
Reserves were low, demand was high and prices skyrocketed. No, not oil. Butter. Butter demand surged in Norway several months ago when a low carb high fat diet swept the nation. At the same time, the supply of butter plunged…
Apple Looks Unappetizing in Argentina
By Mira Korber, guest blogger. While wandering the streets of Buenos Aires, I wondered why the shop windows seemed devoid of any new Apple products. Electronics stores touted the antepenultimate model of the iPod Nano as the new (overpriced) great…
Are X-Men Human?
The U.S. government had to decide whether X-Men are human. Our story starts with the U.S. Customs office. Included in a very long list of items that enter the U.S. are “dolls” and “toys.” According to Customs officials, any figure…