(Published 12/18 and updated 8/21) Some people, including Paul Krugman of the New York Times, claim that economics is so complicated that the average person can’t understand it. This may be true. But it also may not be true. One anti-thesis of the idea that economics is complicated is Caruso Economics. This is the economics of, say, two small islands with, … [Read more...] about Economics is Simple
$10,000 15-year, $0 interest loans (written 9/20, updated 12/20) A new phenomenon has hit the US since the Covid 19: minivans filled with families are lined up for blocks asking for food. They are driven by families used to be making $100,000 a year, and now they don’t have food for their kids. Their businesses have been shut down; businesses have run out of customers; … [Read more...] about Give Everyone a Loan
Note: this article is based on a New York Times Op Ed essay in July, 2016. As if we didn’t have enough troubles already. On this Op Ed page, a knowledgeable writer in the field stated that we’re running out of sand. I never thought of sand. He said that virtually all the new construction in the world uses sand, since most of the buildings use concrete. Also, roads … [Read more...] about No Sand – 7/16, updated 8/20
Note: this article was originally written in 2015. It was updated 11/1/2017. In the election of 2012 between President Obama and Mitt Romney, the left demonized Romney as a cold-hearted liar who cares nothing about the poor and who will do or say anything to get elected. They demonized rich Americans as well. However, a simpler way of looking at who supported … [Read more...] about Who Pays Taxes? Who Benefits?
[three_fourth_last]The Economics of the Lottery Recently I bought a lottery ticket, costing $2, to put my hat in the ring in hopes of winning a lottery. Why did I do it? What is the economics of this bet? To begin with, I’m a believing — and struggling -- Catholic. Perhaps the top atheist of all time is Richard Dawkins (The God Delusion). He has all the up-to-date … [Read more...] about The Economics of the Lottery