:: Friday, November 21, 2008
Latest Article
Trading off: virtual companies and relative economics
By Cheryl Grey
The advantages of going virtual for companies are obvious. One of the greatest of these, yet one that’s often overlooked, is the ability to select employees without geographical limitations or relocation costs. This also carries cost-of-living possibilities even within national borders, as, for example, the price of an editor outside of New York City is rather lower than the price of one in Manhattan. However, the ..
By Cheryl Grey
The advantages of going virtual for companies are obvious. One of the greatest of these, yet one that’s often overlooked, is the ability to select employees without geographical limitations or relocation costs. This also carries cost-of-living possibilities even within national borders, as, for example, the price of an editor outside of New York City is rather lower than the price of one in Manhattan. However, the ..
Latest Blogs
America's Most Effective Weapon Against the Rich
By G.L.C.
1 comments»
Inheritance is a civil right and not a natural right. Way back in 1898, the Supreme Court ruled that the right to take property by devise or descent is the creature of the law and not a natural right. The government had the absolute right to decide a....
By G.L.C.
1 comments»
Inheritance is a civil right and not a natural right. Way back in 1898, the Supreme Court ruled that the right to take property by devise or descent is the creature of the law and not a natural right. The government had the absolute right to decide a....
Why I want to get out of America as fast as I can
By Bhagwad Jal Park
15 comments»
I arrived in the United States a few months ago with my wife. It was my first time to America, and I was looking forward to experiencing new things and enjoying myself. However, I am becoming aware that far from being everything that America is hyped....
By Bhagwad Jal Park
15 comments»
I arrived in the United States a few months ago with my wife. It was my first time to America, and I was looking forward to experiencing new things and enjoying myself. However, I am becoming aware that far from being everything that America is hyped....
Why the efforts to rescue the economy may fail
By G.L.C.
1 comments»
In an attempt to resolve the present credit crisis, the United States government has taken many steps. Since September, it placed Fannie Mae and Freddie Mac, the mortgage giants under conservatorship, taken a majority stake in the American Internat....
By G.L.C.
1 comments»
In an attempt to resolve the present credit crisis, the United States government has taken many steps. Since September, it placed Fannie Mae and Freddie Mac, the mortgage giants under conservatorship, taken a majority stake in the American Internat....
Should HPV Vaccination Be Mandatory?
By J.C.
1 comments»
There has been a lot of recent news about a possible HPV Vaccine mandate in several states. For those of you who do not know what I am talking about, HPV is the Human Papilloma Virus that has been linked to cervical cancer. It's a virus that a lot of....
By J.C.
1 comments»
There has been a lot of recent news about a possible HPV Vaccine mandate in several states. For those of you who do not know what I am talking about, HPV is the Human Papilloma Virus that has been linked to cervical cancer. It's a virus that a lot of....
Ford, GM, Chrysler Announce Losses; Can the American Middle Class Survive a Big Three Meltdown?
By Evelyn Black
3 comments»
Can the U.S. economy possibly get any scarier or more complicated? The short answer is yes, it can. The longer, more complicated answer is that the looming (potential) failures of Ford, GM, and Chrysler present long term sustainability problems for....
By Evelyn Black
3 comments»
Can the U.S. economy possibly get any scarier or more complicated? The short answer is yes, it can. The longer, more complicated answer is that the looming (potential) failures of Ford, GM, and Chrysler present long term sustainability problems for....
Adverse Selection: When Is It OK to Lie to Insurance Companies?
By Bhagwad Jal Park
6 comments»
Today, we are going to discuss an interesting phenomenon in the world of game theory: namely, adverse selection. Frequently, game theory attempts to isolate and analyze curious phenomena and detect the essential elements that make it work. We can the....
By Bhagwad Jal Park
6 comments»
Today, we are going to discuss an interesting phenomenon in the world of game theory: namely, adverse selection. Frequently, game theory attempts to isolate and analyze curious phenomena and detect the essential elements that make it work. We can the....
Alexander Hamilton: The Unlikely Culprit Behind the Financial Crisis?
By J.D. Seagraves
8 comments»
Future generations will look back upon the financial crisis of '08 as the most sensational "whodunit" of the young century. Was the Bush administration behind it all? Or was it the Democrats and their beloved Community Reinvestment Act? Were greedy W....
By J.D. Seagraves
8 comments»
Future generations will look back upon the financial crisis of '08 as the most sensational "whodunit" of the young century. Was the Bush administration behind it all? Or was it the Democrats and their beloved Community Reinvestment Act? Were greedy W....
Coming in 2010: New IRS Rules to Fight Tax Evasion
By G.L.C.
0 comments»
Many wealthy Americans have been using offshore services provided by foreign banks to evade tax. Things may now get a little difficult. Until now foreign banks could funnel hundreds of billions of dollars overseas on behalf of American clients wi....
By G.L.C.
0 comments»
Many wealthy Americans have been using offshore services provided by foreign banks to evade tax. Things may now get a little difficult. Until now foreign banks could funnel hundreds of billions of dollars overseas on behalf of American clients wi....
Now You Can Manage Your Prescription Drugs Online
By J.C.
2 comments»
If you are at the age where you qualify for Medicare, then you undoubtedly understand how difficult it may be to manage your medications and prescriptions. The government's Medicare program is a terribly complicated thing comprised of four parts - A,....
By J.C.
2 comments»
If you are at the age where you qualify for Medicare, then you undoubtedly understand how difficult it may be to manage your medications and prescriptions. The government's Medicare program is a terribly complicated thing comprised of four parts - A,....
Why You Shouldn't Patent Your Invention Just Yet
By Bhagwad Jal Park
2 comments»
Can you imaging inventing something new and refusing to patent it? We game theorists are a greedy lot. While not doing anything actually illegal, we show no mercy when it comes to an opportunity to make lots of money. In this latest nefarious article....
By Bhagwad Jal Park
2 comments»
Can you imaging inventing something new and refusing to patent it? We game theorists are a greedy lot. While not doing anything actually illegal, we show no mercy when it comes to an opportunity to make lots of money. In this latest nefarious article....
Should Patients Be Allowed to Direct Their Own Care?
By J.C.
6 comments»
Some people have suggested that one way to prevent the wasteful costs of healthcare is to have a menu of treatment options, with their costs, that is presented to the patient. For example, when you are admitted to the hospital as an inpatient, the ph....
By J.C.
6 comments»
Some people have suggested that one way to prevent the wasteful costs of healthcare is to have a menu of treatment options, with their costs, that is presented to the patient. For example, when you are admitted to the hospital as an inpatient, the ph....
Is the U.S. on the Road to Socialism? (Part 2)
By J.D. Seagraves
2 comments»
Last week, I looked at the first five planks of Karl Marx's Communist Manifesto and the extent to which they have been integrated into the U.S. government. This week, I'll examine planks 6-10. 6. Centralization of the means of communication and tr....
By J.D. Seagraves
2 comments»
Last week, I looked at the first five planks of Karl Marx's Communist Manifesto and the extent to which they have been integrated into the U.S. government. This week, I'll examine planks 6-10. 6. Centralization of the means of communication and tr....
A Glimpse of Drucker's Brain: E-Interview and Reader Q&A with Jeffrey Krames
By Anthony Luafalealo
2 comments»
In 2003, at age 94, Peter Drucker, widely considered the world's most influential expert on management, granted Jeffrey Krames a daylong interview about his management principles, his 38 books, and the leaders he had advised over the years. Upon his ....
By Anthony Luafalealo
2 comments»
In 2003, at age 94, Peter Drucker, widely considered the world's most influential expert on management, granted Jeffrey Krames a daylong interview about his management principles, his 38 books, and the leaders he had advised over the years. Upon his ....
Other Recent Articles
Is Health Insurance Really the Problem and Not the Cure?
By R. C. Anderson
Think back to the last time you went to the doctor. Were any tests run? Did the doctor seem to guess at what was wrong? Were you prescribed medicine that didn’t work or you didn’t need? It seems that any more, when you visit your doctor, you are real..
By R. C. Anderson
Think back to the last time you went to the doctor. Were any tests run? Did the doctor seem to guess at what was wrong? Were you prescribed medicine that didn’t work or you didn’t need? It seems that any more, when you visit your doctor, you are real..
Child Labor and Economic Development: Making It Pay to Go to School
By Mary Nichols
Around the world, millions of children are engaged in child labor. The International Labour Organization (ILO) has estimated that up to 1 in 5 children globally are working, with the proportion even higher in some regions of Africa and Asia. Recent e..
By Mary Nichols
Around the world, millions of children are engaged in child labor. The International Labour Organization (ILO) has estimated that up to 1 in 5 children globally are working, with the proportion even higher in some regions of Africa and Asia. Recent e..
Europe at Risk: The Next Possible Round in the Financial Crisis
By Cheryl Grey
When the U.S. government refused to bail out Lehman Brothers and no buyer could be found for the tottering investment bank, traders and investors around the world realized something terrifying: their profits—worse yet, their capital—were at risk, and..
By Cheryl Grey
When the U.S. government refused to bail out Lehman Brothers and no buyer could be found for the tottering investment bank, traders and investors around the world realized something terrifying: their profits—worse yet, their capital—were at risk, and..
Blog Categories
Most Commented
Got an Economics Question?
By Stephan Zimmermann
20 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
20 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....
Dominant Economic Views in Western Society, Part II
By Stephan Zimmermann
16 comments»
It would be (or maybe is?) an interesting and informative exercise to poll existing undergraduate economic students whether they consider themselves “Homo economicus.” A second part of the study could be completed with graduate students, about to ....
By Stephan Zimmermann
16 comments»
It would be (or maybe is?) an interesting and informative exercise to poll existing undergraduate economic students whether they consider themselves “Homo economicus.” A second part of the study could be completed with graduate students, about to ....
Why I want to get out of America as fast as I can
By Bhagwad Jal Park
15 comments»
I arrived in the United States a few months ago with my wife. It was my first time to America, and I was looking forward to experiencing new things and enjoying myself. However, I am becoming aware that far from being everything that America is hyped....
By Bhagwad Jal Park
15 comments»
I arrived in the United States a few months ago with my wife. It was my first time to America, and I was looking forward to experiencing new things and enjoying myself. However, I am becoming aware that far from being everything that America is hyped....
Did the Community Reinvestment Act Lead to the Present Financial Crisis?
By Evelyn Black
13 comments»
With the U.S. credit crunch gone global and the $700 billion bailout package now looking like a small drop of water in a tidal wave of woe, the question of blame is now all over the media. Who caused this mess? If you read the Wall Street Journ....
By Evelyn Black
13 comments»
With the U.S. credit crunch gone global and the $700 billion bailout package now looking like a small drop of water in a tidal wave of woe, the question of blame is now all over the media. Who caused this mess? If you read the Wall Street Journ....
Monetarism or the Austrian School: Which Is More Effective?
By Stephan Zimmermann
13 comments»
At a most appropriate time, Sukrit asks: What is the difference between the Austrian business cycle theory and monetarism, and which one do you think is a more accurate description of how the economy works? The first part is fairly easily ex....
By Stephan Zimmermann
13 comments»
At a most appropriate time, Sukrit asks: What is the difference between the Austrian business cycle theory and monetarism, and which one do you think is a more accurate description of how the economy works? The first part is fairly easily ex....
GM Encouraged by 24.5% Sales Drop in August
By Evelyn Black
12 comments»
After posting a 24.5% decline in August sales, GM announced on September 3 that it was encouraged by falling gas prices and signs that the market might finally be bottoming out. It takes a whale of a positive attitude to see a bright spot in a sales ....
By Evelyn Black
12 comments»
After posting a 24.5% decline in August sales, GM announced on September 3 that it was encouraged by falling gas prices and signs that the market might finally be bottoming out. It takes a whale of a positive attitude to see a bright spot in a sales ....
Why Did Paulson's Bailout Plan Fail in Congress?
By Evelyn Black
10 comments»
“OK, everyone, stay calm. Hand over the $700 billion right now, and no one gets hurt. Make a wrong move, and the whole economy goes down! Make it quick, or you can all kiss your retirements good-bye!” Dialog from an old-fashioned "stick-em-up" Weste....
By Evelyn Black
10 comments»
“OK, everyone, stay calm. Hand over the $700 billion right now, and no one gets hurt. Make a wrong move, and the whole economy goes down! Make it quick, or you can all kiss your retirements good-bye!” Dialog from an old-fashioned "stick-em-up" Weste....
Alexander Hamilton: The Unlikely Culprit Behind the Financial Crisis?
By J.D. Seagraves
8 comments»
Future generations will look back upon the financial crisis of '08 as the most sensational "whodunit" of the young century. Was the Bush administration behind it all? Or was it the Democrats and their beloved Community Reinvestment Act? Were greedy W....
By J.D. Seagraves
8 comments»
Future generations will look back upon the financial crisis of '08 as the most sensational "whodunit" of the young century. Was the Bush administration behind it all? Or was it the Democrats and their beloved Community Reinvestment Act? Were greedy W....
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The Citizen Economists Poll
Q.
How is the Fed's performance in the present economy?
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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
MannyfromNYC:
If I had the time, I would probably study the Indian telecomm industry in-depth in order to get a better understanding of the overall market. I've done a little checking via the CIA factbook website for a glance at the Indian economy. Certain inform...
If I had the time, I would probably study the Indian telecomm industry in-depth in order to get a better understanding of the overall market. I've done a little checking via the CIA factbook website for a glance at the Indian economy. Certain inform...
Bhagwad Jal Park:
My suspicion is that if a person has been living in the US long enough, then they don't mind the restrictions, the background checks and the inconvenience of being locked in. But once they step outside and get used to the easy freedom that exists ...
My suspicion is that if a person has been living in the US long enough, then they don't mind the restrictions, the background checks and the inconvenience of being locked in. But once they step outside and get used to the easy freedom that exists ...
jimi:
As an expat American living outside the US for a number of years I can sympathize with Bhagwad, at least on the cell phone issue. Of course there are always pros and cons in every country. Whenever I return to the US and need cellular service I beco...
As an expat American living outside the US for a number of years I can sympathize with Bhagwad, at least on the cell phone issue. Of course there are always pros and cons in every country. Whenever I return to the US and need cellular service I beco...
Raymond:
And since inception, did the estate tax achieve its main goal of reducing inequality and income? If not why not....
And since inception, did the estate tax achieve its main goal of reducing inequality and income? If not why not....
J.D. Seagraves:
I am disgusted by the lack of understanding here. Same here. Inflation is necessary to create a half-life to money. Without inflation, there is no incentive to spend now, invest now, give now- only to hoard. B.S. We experienced the greatest ...
I am disgusted by the lack of understanding here. Same here. Inflation is necessary to create a half-life to money. Without inflation, there is no incentive to spend now, invest now, give now- only to hoard. B.S. We experienced the greatest ...
Moyo:
I choose to believe your gripe over the US is not because of the cell phone contracts, but with the economics behind the operation of big US corporations. While the US prides itself in being a free market, many of the controls of a free market and po...
I choose to believe your gripe over the US is not because of the cell phone contracts, but with the economics behind the operation of big US corporations. While the US prides itself in being a free market, many of the controls of a free market and po...
MannyfromNYC:
Anupa, I understand how you feel, but you are forgetting one thing. The deposit you pay also covers the discounted phone you received from the company. I am really sorry, but a company has no reason to make positive assumptions about their custom...
Anupa, I understand how you feel, but you are forgetting one thing. The deposit you pay also covers the discounted phone you received from the company. I am really sorry, but a company has no reason to make positive assumptions about their custom...
Dirk:
I am disgusted by the lack of understanding here. Inflation is necessary to create a half-life to money. Without inflation, there is no incentive to spend now, invest now, give now- only to hoard. The problem is that our world is using more do...
I am disgusted by the lack of understanding here. Inflation is necessary to create a half-life to money. Without inflation, there is no incentive to spend now, invest now, give now- only to hoard. The problem is that our world is using more do...
