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.

The Cash We Love to Stash

Although going cashless seems to be a trend, we are printing more $100 bills for people in the U.S.and elsewhere in the world.

The Downside of a Greek Bailout

The Greek response to new bailout talks and more fiscal austerity ranged from a Scrooge Christmas card to a larger underground economy.

Why It’s Tough to Demonetize Cash

A surprise announcement on 11/8/16, demonetizing India’s 500- and 1000-rupee notes meant most of the money in the country had to be swapped for new notes.

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 Large Bills to Small Sodas

Our economic news summary includes Coke’s mini sales and social norms, the minimum wage’s and cardboard boxes’ hidden impact, and an economic misery index.

The €500 Note Battle

Eliminating the $100 bill and the €500 note from the money supply has supporters citing terrorism financing and opponents talking of large purchases.

The Underground Economy: How Much Did the GDP Really Grow?

Having reported yesterday that the GDP grew 2.5%, the Bureau of Economic Analysis (BEA) reminded us that their data “are incomplete or subject to further revision.” They meant that businesses and individuals still have more information to gather and submit…

Who Is Unemployed?

Does an unemployment rate of 8.3% mean we have 8.3% unemployment? Not necessarily. Using what Abbott and Costello might have said, a Huffington Post journalist explains why. Costello: I want to talk about the unemployment rate in America. Abbott: Good subject. Terrible…

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…