Looking back and looking ahead at our tipping behavior, we can expect tips to remain a social norm that will increase.
This week’s economic news summary included unexpected insight from credit scores, the natural resource curse, and what the bacon cheeseburger can tell us.
Whereas immigration can result in more workers, their impact on wages can be neutral because those immigrants create more demand which leads to more jobs.
Personal income relates to how long we sleep. Less sleep can diminish the productivity that brings a higher wage. But also, less sleep means more work time.
Although the gender pay gap can be women earning 78 cents for every dollar a male earns, the data, depending on so many variables, is more complicated.
No, we don’t mean monopoly. A monopoly is the single seller in a large or small geographic area. Monopsony, by contrast, indicates there is a single buyer. Where are we going? Whereas a monopoly has the power to charge too high a price, the amount…