More in Global Economy

6 months

Should We Abolish Statistical Significance?

The idea of "statistical significance" has been a basic concept in introductory statistics courses for decades. If you spend any time looking at quantitative research, you will often see in tables of results that certain numbers are marked with an asterisk or some other symbol to show that they are "statistically significant."

6 months

The New Green Deal Is Not New

No, it is not a new deal, and it should not be.

6 months

What Did Gutenberg's Printing Press Actually Change?

There's an old slogan for journalists: "If your mother says she loves you, check it out." The point is not to be  too quick to accept what you think you already know.

6 months

The Remarkable Renaissance in US Fossil Fuel Production

M. King Hubbert was a big-name geologist who worked much of his career for Shell oil. Back in the 1970s, when OPEC taught the US that the price of oil was set in global markets, discussions of US energy production often began with the "Hubbert curve," based on a 1956 paper in which Hubbert predicted with considerable accuracy that US oil production would peak around 1970. The 2019 Economic Report of the President devotes a chapter to energy policy, and offers a reminder what happened with Hubbert's curve.

6 months

Wealth, Consumption, and Income: Patterns Since 1950

Many of us who watch the economy are slaves to what's changing in the relatively short-term, but it can be useful to anchor oneself in patterns over longer periods. Here's a graph from the 2019 Economic Report of the President, which relates wealth and consumption to levels of disposable income over time.

6 months

Some Peculiarities of Labor Markets: Is Antitrust an Answer?

Labor markets are in some ways fundamentally different from markets for goods and services. A job is a relationship, but in general, the worker needs the relationship to begin and to last more than the employer does/ John Bates Clark , probably the most eminent American economist of his time, put it this way in his 1907 book, Essentials of Economic Theory.

6 months

Capital Flows – Is a Reckoning Nigh?

·        Borrowing in Euros continues to rise even as the rate of US borrowing slows