Are women paid unfairly less than men? Two opposing views.
One here. Research from the American Association of University Women shows that even one year out of college, a typical college-educated woman working full time earned $35,296 a year, compared with...
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Oh, the miracles of market capitalism!
In 1876, bananas were first introduced to the United States public through the Philadelphia Centennial Exposition of America. They sold for 10 cents apiece.Source.Let's look at a couple of miracles of...
View ArticleCorrelation Is Not Causation
Politico is reporting an increase in sales of Orwell's book 1984 following revelations of the NSA collecting mass amounts of data on regular citizens. According to the Washington Post: Sales of “1984″...
View ArticleIs North Carolina Overvalued?
About two years ago I got into a discussion with someone who consulted state and local politicians and businesses about the economies in southern states, including North Carolina. I expressed to him...
View ArticleCool satellite image of yesterday's storm.
From Jason Samenow of the Washington Post comes this video of fascinating satellite images (a compilation of shots taken every minute) of the storm that swept through Virginia and North Carolina...
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American Medical Association President Dr. Jeremy A. Lazarus, called the ruling “deeply flawed,” and said decision will impair states’ authority to safeguard public health and patient safety, according...
View ArticleInternships from Both Perspectives
The movie The Internship, which I found very funny and offering very good messages, has brought about a number of people offering insight into internships and how to benefit from them, mostly from the...
View ArticleWhat statements do price controls make about our society?
Art Carden has a very good piece on price controls and why they persist despite the social harms they create. Price controls create shortages, and they also drive a wedge between the price of a good or...
View ArticleWhen Not to Raise Your Price
How about when demand is very low.North Carolina's Turnpike Authority was set to raise the toll on the Triangle Expressway (they've since delayed doing so), possibly a good idea for raising revenue if...
View ArticleWhat employers are looking for in entry level job candidates.
This is something I've been telling students for years.A survey of employers released in April by the Association of American Colleges and Universities found that 93 percent of the respondents reported...
View ArticleHow To Tell If A Movie Will Fail Before It's Released.
These are some good clues. I will add only one more, which is a theory put forth by my wife years ago. If you see a forthcoming movie advertised heavily on television, it's likely to be a crappy movie....
View ArticleAn important consideration of bank capital requirements.
Simon Johnson makes an important qualifying argument regarding any level of bank capital requirements.Given systemically important financial institutions and imperfect regulations, capital requirements...
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Bad news: We're shedding farm jobs again.
All right, this headline might have been relevant (and wrong) about eighty years ago, but it's analagous to the headline for this story from the Washington Post (and still wrong). "Bad news: We're...
View ArticleWhen talk is cheap, discount what you hear.
Marketing professors Duncan Simester of the Massachusetts Institute of Technology and Eric Anderson of Northwestern University did a study based on reviews posted on the website of a major...
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Did Aaron Rodgers really make a bet and then welsh on it?
Bryan Caplan has offered to bet people on the ultimate validity of his beliefs against theirs. As Alex Tabarrok calls it, betting is "a tax on bullshit" and Bryan is calling BSers out. In other words,...
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A Lesson on Pricing and How to Get Stuff Cheaper
At what price should you try to sell your product(s) or service(s) (including your labor services)? At the highest price you can get for it of course. It doesn't take an AI geek to figure this one out....
View ArticleLarry Arnn is no racist, it's this story to which everyone ought to take...
I once witnessed media bias first-hand. It wasn't what was said—a sin of commission—but what was not said—a sin of omission—and who the news outlet chose to interview during the broadcast. The story...
View ArticleMarket Capitalism As Social Cooperation
We tend to forget that market capitalism, though based on competition, is really about social cooperation. When I go to the store for milk, the grocer and I are engaged in a socially cooperative...
View ArticleWhy breaking out of low wage jobs may not be easy.
I enjoy teaching about labor markets and things like why fair trade brand coffee cannot prop up the wages of low-skilled coffee farmers like it is intended to do. When entry into a market is easy...
View ArticleExplaining The Difference Between Men and Women by Dave Barry
“If a woman has to choose between catching a fly ball and saving an infant’s life, she will choose to save the infant’s life without even considering if there is a man on base.” —Dave BarryRead more.
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