Economic Thinkers

Starting with Adam Smith and The Wealth of Nations, continuing to Malthus, Ricardo, Keynes, Hayek, Friedman, Sen and others, the timeless ideas of economic thinkers provide understanding of the contemporary economy.

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    Utilities Included

    Aug 17, 10 • 216 Views • No Comments

    In NYC, there are 250,000 housing units that use more electricity than most others. The reason? Buildings without meters for each apartment have leases that say “utilities included”. So, whether tenants use more or less power, the rent is the...  [read more]

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    Netflix and Buggy Whips

    Aug 14, 10 • 281 Views • 1 Comment

    After reading this NY Times article about Netflix, you might begin to think about buggy whips. I know it sounds distant but here is the connection. Entrepreneurs make an existing product or process obsolete. Netflix and Blockbuster. Amazon and Barnes &...  [read more]

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    How Are We Spending Our Money?

    Aug 11, 10 • 223 Views • No Comments

    Has the recession changed how we spend? Here are the numbers that give some answers according to a summary from Michael Mandel, former BusinessWeek chief economist.: Since the 4th quarter of 2007, we have spent more on: 1) telephone equipment/up by 16.6% 2)...  [read more]

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    Becoming Ben Bernanke

    Aug 8, 10 • 250 Views • No Comments

    This was fun! A 5 minute Federal Reserve simulation lets you target the fed funds rate for 16 hypothetical quarters and then watch the inflation and unemployment impact. It all appears manageable until a surprise news headline appears. The site also links to...  [read more]

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    Working Moms: The Good and the Bad News

    Aug 7, 10 • 179 Views • No Comments

    Two recent studies about working moms give good news and bad. The good first. If you work during your child’s first year, and you contribute considerably to the family income, or if your child care is very good, or if you are sensitive to your children,...  [read more]