:: Thursday, August 28, 2008
Latest Article
Global Community Efforts That Will Improve the World
By James Ratcliff
“Eat your vegetables,” my mother told me when I was growing up in America in the 1950s. “Children are starving in Europe.” My mother’s postwar economic geography sounds comically antiquated today; she could never have foreseen a world in which the euro is stronger than the U.S. dollar. But in another sense she was half a century ahead of her time; her quaint tactics were designed not only to encourage me to finish a meal but—at least in part,..
By James Ratcliff
“Eat your vegetables,” my mother told me when I was growing up in America in the 1950s. “Children are starving in Europe.” My mother’s postwar economic geography sounds comically antiquated today; she could never have foreseen a world in which the euro is stronger than the U.S. dollar. But in another sense she was half a century ahead of her time; her quaint tactics were designed not only to encourage me to finish a meal but—at least in part,..
Latest Blogs
The Sarbanes-Oxley Act: Six Years Later
By G.L.C.
0 comments»
The Sarbanes-Oxley Act came into force in 2002 and introduced major changes to the regulation of financial practice and corporate governance following scandals like the collapse of Enron. It is mandatory and all organizations - large and small - must....
By G.L.C.
0 comments»
The Sarbanes-Oxley Act came into force in 2002 and introduced major changes to the regulation of financial practice and corporate governance following scandals like the collapse of Enron. It is mandatory and all organizations - large and small - must....
Will Robots Destroy Our Economic System?
By Bhagwad Jal Park
0 comments»
I don't count myself as a visionary, but there is a specter looming over mankind's collective head, and I'm not sure if I can see how we can avoid it. In my opinion, creating good artificial intelligence is just a matter of time. Already researchers....
By Bhagwad Jal Park
0 comments»
I don't count myself as a visionary, but there is a specter looming over mankind's collective head, and I'm not sure if I can see how we can avoid it. In my opinion, creating good artificial intelligence is just a matter of time. Already researchers....
IRS Gets Upper Hand in Fight Against Tax Shelters
By G.L.C.
0 comments»
Many companies have used tax shelters known as Lease In Lease Out (LILO) and Sale In Lease Out (SILO) to claim deductions. A string of recent court decisions are being seen as a major victory for the Internal Revenue Service in its fight to outlaw th....
By G.L.C.
0 comments»
Many companies have used tax shelters known as Lease In Lease Out (LILO) and Sale In Lease Out (SILO) to claim deductions. A string of recent court decisions are being seen as a major victory for the Internal Revenue Service in its fight to outlaw th....
Why Businesses Are Hiring Even During a Recession
By J.D. Seagraves
0 comments»
One of the surest signs that we're in a recession is the abundance of "We're Hiring" signs at low-end service-sector places of employment. You've probably seen them around your town: fast food restaurants, video stores, retailers looking for new mana....
By J.D. Seagraves
0 comments»
One of the surest signs that we're in a recession is the abundance of "We're Hiring" signs at low-end service-sector places of employment. You've probably seen them around your town: fast food restaurants, video stores, retailers looking for new mana....
Supreme Court Paves Way for a New Era of Price Fixing
By G.L.C.
0 comments»
In 1911, Dr. Miles Medical Co, a maker of relaxants and other medicines, sued a distributor, John D. Park & Sons Co., for selling at cut rate prices. The company lost the case when the Supreme Court held that it was trading too close to cartel-li....
By G.L.C.
0 comments»
In 1911, Dr. Miles Medical Co, a maker of relaxants and other medicines, sued a distributor, John D. Park & Sons Co., for selling at cut rate prices. The company lost the case when the Supreme Court held that it was trading too close to cartel-li....
Ready for Winter? Home Heating Update & Heads Up
By Evelyn Black
0 comments»
My last post here at Amateur Economists was all about the crazy run-around I experienced trying to get heating oil delivered to our house this summer for the coming winter. We ordered the tank filled in early June; but it was just last week that I fi....
By Evelyn Black
0 comments»
My last post here at Amateur Economists was all about the crazy run-around I experienced trying to get heating oil delivered to our house this summer for the coming winter. We ordered the tank filled in early June; but it was just last week that I fi....
High Corporate Tax Rates Making United States Uncompetitive
By G.L.C.
0 comments»
A recent study by the Paris-based Organization for Economic Co-operation and Development which examined the national tax burdens and their impact on the growth and incomes in member countries concluded that corporate taxes are most harmful for growth....
By G.L.C.
0 comments»
A recent study by the Paris-based Organization for Economic Co-operation and Development which examined the national tax burdens and their impact on the growth and incomes in member countries concluded that corporate taxes are most harmful for growth....
Where Can You Find Amateur Economists?
By Anthony Luafalealo
0 comments»
Amateur Economists is still less than 2 months old, but some major sites are beginning to notice. News aggregators that currently index our content are Google News, Alltop, Healthcare 100, and Wikio. The only site so far that has syndicated one....
By Anthony Luafalealo
0 comments»
Amateur Economists is still less than 2 months old, but some major sites are beginning to notice. News aggregators that currently index our content are Google News, Alltop, Healthcare 100, and Wikio. The only site so far that has syndicated one....
Oil Market Manipulation: The FTC's Latest Target in Fighting the Rising Cost of Oil
By G.L.C.
1 comments»
The high oil prices have forced the government to act once again. Earlier it was the Stop Excessive Energy Speculation Act - an attempt to rein in speculations in the oil market. In July 2008, when the price of oil touched $150 a barrel, the Feder....
By G.L.C.
1 comments»
The high oil prices have forced the government to act once again. Earlier it was the Stop Excessive Energy Speculation Act - an attempt to rein in speculations in the oil market. In July 2008, when the price of oil touched $150 a barrel, the Feder....
Got an Economics Question?
By Stephan Zimmermann
18 comments»
The Internet, television, and magazines or newspapers are full of features concerning economics. So is Amateur Economists. The gamut runs from economic philosophy to politics to econometrics and more. Readers have many questions. Undoubtedly, you w....
By Stephan Zimmermann
18 comments»
The Internet, television, and magazines or newspapers are full of features concerning economics. So is Amateur Economists. The gamut runs from economic philosophy to politics to econometrics and more. Readers have many questions. Undoubtedly, you w....
Real Estate: The Most Valuable Piece of a Doctor's Practice
By J.C.
1 comments»
In any small business, including running a physician's office, the most valuable piece of your business is the real estate. Most people have heard the McDonald's story of founder Ray Kroc, who believed that the most valuable aspect of McDonald's was ....
By J.C.
1 comments»
In any small business, including running a physician's office, the most valuable piece of your business is the real estate. Most people have heard the McDonald's story of founder Ray Kroc, who believed that the most valuable aspect of McDonald's was ....
Countrywide Under Scrutiny for Abusive Practices Against Bankrupt Homeowners
By G.L.C.
0 comments»
As more homeowners enter foreclosure, the fees charged by loan service companies during the process are coming under increased legal scrutiny. Last year the total late fees generated by Countrywide Financial Corp. was $285 million – a 20 percent rise....
By G.L.C.
0 comments»
As more homeowners enter foreclosure, the fees charged by loan service companies during the process are coming under increased legal scrutiny. Last year the total late fees generated by Countrywide Financial Corp. was $285 million – a 20 percent rise....
Can Gold Lose Value Even as the Dollar Weakens?
By J.D. Seagraves
0 comments»
Until August 15, 1971, one U.S. dollar represented 1/35-ounce of gold. It wasn't that gold's "price was fixed," as some liberal economists suggest, it was that a dollar was literally nothing more than the representation of 1/35-ounce of gold. But whe....
By J.D. Seagraves
0 comments»
Until August 15, 1971, one U.S. dollar represented 1/35-ounce of gold. It wasn't that gold's "price was fixed," as some liberal economists suggest, it was that a dollar was literally nothing more than the representation of 1/35-ounce of gold. But whe....
Other Recent Articles
Water-Based Energy May Make Food and Fossil-Based Fuels Unnecessary
By R. C. Anderson
Energy concerns top many American’s list of what worries them most. With gas prices at over $4 per gallon in many places, food prices soaring and the debate regarding food-based biofuels raging, it may seem difficult to see a way past the energy conu..
By R. C. Anderson
Energy concerns top many American’s list of what worries them most. With gas prices at over $4 per gallon in many places, food prices soaring and the debate regarding food-based biofuels raging, it may seem difficult to see a way past the energy conu..
"Privatize the Roads!" Says PhD Economist
By J.D. Seagraves
Death, taxes and government ownership of roads: all inevitabilities, right? Well, not according to Dr. Walter Block, professor of economics at Loyola University in New Orleans and senior fellow at the free-market Mises Institute. Dr. Block, whose mos..
By J.D. Seagraves
Death, taxes and government ownership of roads: all inevitabilities, right? Well, not according to Dr. Walter Block, professor of economics at Loyola University in New Orleans and senior fellow at the free-market Mises Institute. Dr. Block, whose mos..
U.S. Ethanol Production and World Hunger
By Cheryl Grey
Is the United States starving the world to save its citizens from high energy costs? Is processing corn into ethanol lowering global food supplies and leaving people hungry elsewhere? There have been numerous attempts to link worldwide food inflat..
By Cheryl Grey
Is the United States starving the world to save its citizens from high energy costs? Is processing corn into ethanol lowering global food supplies and leaving people hungry elsewhere? There have been numerous attempts to link worldwide food inflat..
Blog Categories
Most Commented
Got an Economics Question?
By Stephan Zimmermann
18 comments»
The Internet, television, and magazines or newspapers are full of features concerning economics. So is Amateur Economists. The gamut runs from economic philosophy to politics to econometrics and more. Readers have many questions. Undoubtedly, you w....
By Stephan Zimmermann
18 comments»
The Internet, television, and magazines or newspapers are full of features concerning economics. So is Amateur Economists. The gamut runs from economic philosophy to politics to econometrics and more. Readers have many questions. Undoubtedly, you w....
Your Right to Healthcare Or Your Right to Choose?
By J.C.
10 comments»
These are exciting times for all of us given the increasing interest in healthcare during a presidential election. One key theme in the transformation of our medical system has been whether universal healthcare is something we want, something we can ....
By J.C.
10 comments»
These are exciting times for all of us given the increasing interest in healthcare during a presidential election. One key theme in the transformation of our medical system has been whether universal healthcare is something we want, something we can ....
Why Big Oil Should Back Renewable Energy
By Evelyn Black
7 comments»
On July 8, oilman T. Boone Pickens launched a personal initiative to promote wind power as a primary renewable energy source for the United States. Pickens wants the next U.S. president to lead the nation to 20% wind power by 2018 by tapping a "wind ....
By Evelyn Black
7 comments»
On July 8, oilman T. Boone Pickens launched a personal initiative to promote wind power as a primary renewable energy source for the United States. Pickens wants the next U.S. president to lead the nation to 20% wind power by 2018 by tapping a "wind ....
Why Doctors Are Not Good Businessmen
By J.C.
7 comments»
It seems almost every other day I hear about some young college kids starting up a new business. Perhaps it is a dot com or social networking business or something unique. What everyone always wants to know is this - what is the business model? Th....
By J.C.
7 comments»
It seems almost every other day I hear about some young college kids starting up a new business. Perhaps it is a dot com or social networking business or something unique. What everyone always wants to know is this - what is the business model? Th....
How Much Does Youth Cost?
By Bhagwad Jal Park
5 comments»
Economic analysis always bases its theories on assumptions like "everyone is intelligent" or "people do whatever they can to maximize their profit." It goes without saying that these assumptions do not hold good a lot of the time. However, they are v....
By Bhagwad Jal Park
5 comments»
Economic analysis always bases its theories on assumptions like "everyone is intelligent" or "people do whatever they can to maximize their profit." It goes without saying that these assumptions do not hold good a lot of the time. However, they are v....
Why We Are Too Rational to Stop Polluting, Part 2
By Bhagwad Jal Park
5 comments»
In the previous article, I explained how in any game, it is reasonable to assume that a stable outcome will be a Nash Equilibrium. Today, I will show how it is impossible for rational people like us to save the planet by cooperating to stop using car....
By Bhagwad Jal Park
5 comments»
In the previous article, I explained how in any game, it is reasonable to assume that a stable outcome will be a Nash Equilibrium. Today, I will show how it is impossible for rational people like us to save the planet by cooperating to stop using car....
Home Heating Oil Companies Can No Longer Provide Their Basic Service
By Evelyn Black
5 comments»
In early June, worried about the rapid increase in the cost of oil, I called my home heating oil provider here in Michigan and ordered a delivery to fill our tank, which is currently almost on empty. The price to fill the tank at that date was just s....
By Evelyn Black
5 comments»
In early June, worried about the rapid increase in the cost of oil, I called my home heating oil provider here in Michigan and ordered a delivery to fill our tank, which is currently almost on empty. The price to fill the tank at that date was just s....
Did Smoke-Free Laws Have a Negative Impact on Businesses?
By G.L.C.
4 comments»
The U.S. Constitution does not give Congress the power to regulate smoking or use of tobacco. However, Congress can use the Commerce Clause to regulate smoking or enact a nationwide ban on smoking in public places including restaurants and bars. It h....
By G.L.C.
4 comments»
The U.S. Constitution does not give Congress the power to regulate smoking or use of tobacco. However, Congress can use the Commerce Clause to regulate smoking or enact a nationwide ban on smoking in public places including restaurants and bars. It h....
Subscribe
Poll
Q.
How is the Fed's performance in the present economy?
Horrible.
Ehh. They're doing okay.
They're actually doing a pretty good job.
I'm a fan; they're doing excellent!
We should get rid of them.
I'm undecided.
Book Review
Lessons on Innovation from the CEO of Proctor & GambleAs the subtitle (How You Can Drive Revenue and Profit Growth) of The Game-Changer indicates, this recent volume by A. G. Lafley and Ram Charan is meant more as a business book, even a business how-to manual, than as an economics text. T..
In the Forums
Religion and Economics
"Without referring to religion, the point that would-be economists need to address is their fundamental view of nature of mankind. To me it is important that not only the Judeo-Christian-Muslim views be addressed, but also the various philosophies of the...African worlds. Perhaps since the U.S. and modern Europe are the accepted leaders in terms of economic theories, tracing that branch of the science back to Abrahamic principles might well be an appropriate first step. ...No matter what the approach, a recognition of each person's view of the nature of mankind should make economics much easier to digest and understand." Discuss...
Recent Comments
Amateur Economists » Will Robots Destroy Our Economic System?:
[...] like the Prisonner’s Dillemma. Each company will be forced to do the rational thing by hiring robots, but collectively they doom [...]...
[...] like the Prisonner’s Dillemma. Each company will be forced to do the rational thing by hiring robots, but collectively they doom [...]...
Stephan Zimmermann:
If we consider the European economic world post-Adam Smith, then the majority of those principles seem to be based on a perspective of "scientific" models.. The specific, Christian based priciples both then and now seem to posit that economic man is...
If we consider the European economic world post-Adam Smith, then the majority of those principles seem to be based on a perspective of "scientific" models.. The specific, Christian based priciples both then and now seem to posit that economic man is...
Dr. A:
The small practice business model is hampered by insurance companies who limit the ability of doctors to pass costs on to consumers. There is no incentive to improve the patient service because reimbursement is not based on quality or convenience....
The small practice business model is hampered by insurance companies who limit the ability of doctors to pass costs on to consumers. There is no incentive to improve the patient service because reimbursement is not based on quality or convenience....
Chris:
Is there a dominant economic worldview in the Western society? If so, what is it? If not, what worldviews are the most popular/employed? Thanks....
Is there a dominant economic worldview in the Western society? If so, what is it? If not, what worldviews are the most popular/employed? Thanks....
Stephan Zimmermann:
JC: The analogy between doctors and lawyers is excellent and might even include dentists. In general, I much prefer non-US doctors who may work under a socialized system (Germany, UK, Canada, etc.) but seem to provide much better "people service" eve...
JC: The analogy between doctors and lawyers is excellent and might even include dentists. In general, I much prefer non-US doctors who may work under a socialized system (Germany, UK, Canada, etc.) but seem to provide much better "people service" eve...
Amateur Economists » Ready for Winter? Home Heating Update & Heads Up:
[...] Ready for Winter? Home Heating Update & Heads Up August 25, 2008 by Evelyn Black My last post here at Amateur Economists was all about the crazy run-around I experienced trying to get heating [...]...
[...] Ready for Winter? Home Heating Update & Heads Up August 25, 2008 by Evelyn Black My last post here at Amateur Economists was all about the crazy run-around I experienced trying to get heating [...]...
The Healthcare Entrepreneur » Blog Archive » Make sure your business is worth selling:
[...] the list of investments provided above, I left out Real Estate. Here is a recent post on the idea that Real Estate may be the most valuable item on the books. In any small business, [...]...
[...] the list of investments provided above, I left out Real Estate. Here is a recent post on the idea that Real Estate may be the most valuable item on the books. In any small business, [...]...
combat the market manipulators:
There is always manipulation, not just in oil but across the board....
There is always manipulation, not just in oil but across the board....
