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Dear Alexa, My friends and I went to the movies last weekend, and at the end of the night I realized I paid more for my popcorn, soda and candy, than I did for my actual movie ticket! Why are movie concessions stands so expensive? Please Explain! Kate Well Kate,... [read more]
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EconLife.com connects economics to everyday life, current events and history.

blog: the economic life

During a recent interview, Larry Summers, Director of President Obama’s National Economic Council, (former economics professor, president of Harvard, Secretary of the Treasury) spoke about his family. His mother’s brother (Kenneth Arrow) and his father’s brother (Paul Samuelson) were Nobel laureates in economics. His parents taught economics at the University of Pennsylvania.
Saying during the interview that economics permeated his life–even when deciding who would get to watch TV, he added that for years he did not realize that his childhood was atypical.
(Interview from Bloomberg on the Economy 12/15/09)