Why We Tip

Looking back and looking ahead at our tipping behavior, we can expect tips to remain a social norm that will increase.

The Choice Between Free Trade and Tariffs

Low skilled labor bears more of the cost of free trade than comparative advantage and traditional economics have indicated.

Weekly Roundup: From Overbooked Flights to Immigration Fallacies

This week’s economic news summary included unexpected insight from credit scores, the natural resource curse, and what the bacon cheeseburger can tell us.

How Immigration Disproves the Lump of Labor Fallacy

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.

How Much Your Sleep Costs You

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.

The Facts Behind the Gender Pay Gap

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.

Why Mickey Mouse Worries About Monopsonies

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…

One Reason That Lady Gaga Cannot Sing in the Paris Métro

For the right to perform in almost all of Paris’s 303 stations, you have to audition in front of a committee composed of 2 Métro employees, 2 members of the public and the artistic director. At spring and autumn tryouts, 2000…

Salary Secrecy

What happens when everyone knows how much you earn? A Boulder, Colorado firm, has voluntarily decided to let workers check a spreadsheet and see what others take home. One employee said she likes it, even when she discovers someone earns…

Job Matters

Where do we work and how much do we earn? In the entire U.S., there are 2830 mathematicians, 3220 historians, and 225,450 fitness trainers and aerobic instructors. Employing 7.6 million, the largest occupational group is salespeople and cashiers. Here, you…