Economic Debates

Most economic decisions can be debated. We have to decide whether we want higher or lower taxes, where to cut government spending, whether the deficit matters, if a business should have more regulation, if marginal analysis should affect environmental regulation. Learning about economics involves defending policy alternatives.

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    Oil Worries?

    Sep 19, 11 • 225 Views • No Comments

    Have you ever heard of Hubbert’s Peak?  No, it is not a mountain. Hubbert’s Peak refers to our oil supply. In 1956, Marion King Hubbert warned us that U.S. oil production would peak within 15 years. And, the only direction after the peak is...  [read more]

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    “Deficit Bias”

    Sep 17, 11 • 327 Views • No Comments

    If anyone asks you about the “fiscal woes” facing the U.S., Japan and the EU, just say, “deficit bias.” The 13th Geneva Report on the World Economy explains “deficit bias.” In the U.S., think about voting constituencies and...  [read more]

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    More Health Care Jobs

    Sep 16, 11 • 218 Views • No Comments

    The health care industry has added 300,000 jobs to the U.S. economy during the past 12 months. New jobs, new construction, new technology, more care. Should we be pleased? This Dr. Seuss-like animated short from marketplace.org presents the downside of health...  [read more]

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    Placing the Poverty Line

    Sep 15, 11 • 246 Views • No Comments

    Any family that earns less than 3 times the annual cost of a nutritionally adequate diet is below the poverty line. But should we agree with the placement of the line? If we say that poverty is “relative deprivation, ” then a definition could take...  [read more]

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    A Tale of Two Euro Zone Countries

    Sep 14, 11 • 266 Views • No Comments

    Saying, “It is a small step for the euro zone and a big step for Estonia…” the Estonian prime minister celebrated his country’s formal entry into the Western economic world. On January 1, 2011, Estonia switched from the kroon to the...  [read more]