International Trade and Finance

First explained by David Ricardo through comparative advantage, international trade and finance expands worldwide efficiency and productivity. Econlife looks at international trade to see its impact through goods and services, trade balances, trade barriers like tariffs and quotas and subsidies.

  • 16790_cheating..12.7.11_000016337564XSmall

    Why Might People Cheat?

    Dec 7, 11 • 687 Views • No Comments

    When are people more likely to cheat? Behavioral economist Dan Ariely says to look at sweatshirts, the Ten Commandments, dollar bills and cans of Coca-Cola. In one experiment, Ariely discovered that more students would copy someone’s seemingly dishonest......  [read more]

  • 16788_11.11_000012487089XSmall

    Corn Counters

    Dec 6, 11 • 740 Views • No Comments

    To estimate the size of the corn crop, the U.S. Department of Agriculture (USDA) hires corn counters. Calculating stalk stats and assessing cob size, they observe 15 foot sections in thousands of fields. Add to that weather predictions, yield trends, and......  [read more]

  • 16776_12.15_000013835769XSmall

    The Rent-A-Ship Market

    Dec 1, 11 • 706 Views • No Comments

    Knowing the price to rent a Handysize can come in handy if you want to measure economic activity. A Handysize is a small cargo ship. The very biggest vessels, called Capes because of the routes they have to take, are so huge that they cannot fit through the......  [read more]

  • Tax Revenue

    Greek Taxes

    Nov 29, 11 • 898 Views • No Comments

    Having added property taxes to electric bills, the Greek government is shutting off the power to people who do not pay what they owe. The response? In a northern suburb of Athens, a mayor has assembled a group of electricians to reconnect people who lose......  [read more]

  • 16738_housefire.11.27.11_000016225579XSmall

    The First Credit Default Swap

    Nov 28, 11 • 1132 Views • No Comments

    Some of the euro zone’s problems actually started with the Exxon Valdez oil spill. After the 1989 Exxon Valdez calamity, when an Alaska jury said that Exxon owed $5 billion in damages, they asked J.P. Morgan for a $4.8 billion line of credit. Concerned......  [read more]