The U.S. dollar is a handy backup when a country’s currency loses its value. After Zimbabwe’s hyperinflation hit its peak (or its nadir) in 2009, they used U.S. dollars but didn’t ha…
What Misery Indexes Say About Baseball and the World
Whether ranking baseball team fans or a country’s unemployment and inflation rates, misery indexes can tell us about people’s happiness.…
The Messages That Satellite Images Send
By showing illuminated areas of the world, nighttime satellite images can tell economic stories that relate to growth and contraction.…
The Chaos That Inflation Can Create
Last year, Venezuela’s inflation rate exceeded 800%. For this year, the data conflicts. While the Wall Street Journal and the IMF say Venezuela is on its way to hyperinflation, Johns Hopk…
Why Safe Cracking is a Monetary Policy Tool in Libya
Related to safe cracking and printing money, the impact of cheap oil on Libya and Venezuela has been somewhat surprising.…
Venezuela’s Beer Problem
In addition to electricity, water, pharmaceuticals and supermarket items, Venezuela will soon have a beer shortage because of its foreign exchange policy.…
One Way That Economists Measure Misery
A yardstick that combines inflation and unemployment, the Misery Index is a handy way to assess economic happiness but like all statistics, it has defects.…
The (Dutch) Disease in Saudi Arabia and Venezuela
As in Venezuela and Saudi Arabia, the Dutch disease that an economy catches comes from too much dependence for revenue and jobs on one commodity like oil.…
The Strange World of Venezuelan Hyperinflation
Because of hyperinflation, Venezuela needs billions of bank notes so that businesses and consumers can pay the insane prices that rise daily.…
The First and Last Places to Celebrate the New Year
Because time zones are a human creation, the beginning of the New Year varies around the world.…