Where Gasoline Is Most and Least Affordable

When we look at where the world’s gasoline prices are high and low, we could be surprised with their affordability.

Why Venezuelans Might Launder (In a Washing Machine) Their Dollars

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 have enough. So, when the cash got too gray…

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 Hopkins economist Steve Hanke says the rate is closer to 70%.…

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.