Subsidies: Governments Choosing Favorites
Introduction Imagine that you are the owner of a clothing company, United for Clothing. You do pretty good business, but you’re always wary of the
Economics
Gini Coefficient: Slicing the Economic Pie
Introduction Economists have many different ways of measuring the economy and making conclusions about how it is doing. Some measurements analyze the total amount of
Inflation and Deflation: More Money, More Problems
Problem Karina meets up with her friends every Sunday at the same cafe, and she always orders the same thing: a small coffee and a
Universal Basic Income: Free Money
The Problem Jim has worked as a truck driver for 20 years. His wife, Erika, left her paying job a few years ago to care
Globalization: International Travels of a T-shirt
Introduction Have you ever wondered how your t-shirt was made? In 2013, NPR followed the production of a T-Shirt, from the lab-made cotton seeds grown
Theory of Optimal Taxation: Making Good Cents
Background Governments need money to operate. It takes money to fix infrastructure, fund welfare programs, and run various projects. Hence the dreaded compulsory contribution to
Marxism: It’s All about Class
Have You Ever? What comes to mind when you think about Marxism, socialism, or communism? Is it the failed regime of dictatorship in the Soviet
The New Deal: America’s Alphabet Soup
Introduction Starting with the stock market crash of October 1929, and worsening throughout the 1930s, the Great Depression ravaged the American population and the industrialized
Friction Costs: Shipping Costs How Much?
Have You Ever? You and your friends want to see your favorite band live in concert. The tickets are $100 each, so you save up
Adverse Selection and the Lemons Problem: A Sour Situation
The Problem Imagine that the appearance of all fruit has changed so that they all resemble a gray, fist-sized cube. There’s no way to tell
