Regulation

In a market economy, regulation can help or hinder economic activity. Looking at topics that include the environment, financial instruments and anti-trust and past and present Supreme Court cases, econlife considers regulation when it investigates the US market economy.

  • NYC Taxicabs, Tips and Credit Cards

    Taxi Tips

    Dec 8, 12 • 1045 Views • No Comments

    Assume you are in a NYC taxi cab. The fare is $12.00. How much of a tip do you leave? a. $1 b. $2 c. $3 d. $4   Actually, it all depends on whether you use cash or credit. People who pay in cash tend to leave a 10% tip. Those who use a [&hellip......  [read more]

  • The History of the Elevator is About Innovation and Economic Growth

    Elevator Economics

    Dec 6, 12 • 1300 Views • No Comments

    Where would we be without the elevator? To deliver a bed, sometimes you need an elevator. It is easy now…but not during the mid-19th century. When a bed company mechanic, Elisha Graves Otis, was asked to create a freight elevator, he knew he had to......  [read more]

  • Job Gains in Texas and Losses in Caifornia and Florida

    Austin and Oakland: A Tale of 2 Cities

    Dec 4, 12 • 693 Views • No Comments

    Sort of, we can “celebrate” a birthday. 5 years ago, the Great Recession began. And that takes us to Texas where they can celebrate. Among the large metropolitan areas in the US, Austin (#1), Houston (#2), San Antonio (#4) and Dallas (#7) are in......  [read more]

  • Industries afflicted with Baumol's Disease have slower productivity growth.

    Butter, Health Care and the Spread of Baumol’s Disease

    Dec 1, 12 • 785 Views • No Comments

    When butter makers had Baumol’s Disease, for centuries, there was no cure. From the 1700s to 1940, making butter required some cream, a churn and usually a woman with lots of time and energy to crank or plunge a shaft. When, in 1850, someone invented a......  [read more]

  • A Price Ceiling Has Unintended Consequences

    Do You Like Rent Control?

    Nov 30, 12 • 2664 Views • No Comments

    Asked if it makes sense to mandate lower rents for some apartments in large cities, many of us say yes. Lower rents facilitate diversity and they enable middle income municipal workers to live close to home. Affordability is good. Yes? The residents of......  [read more]