Posts Tagged ‘Adam Smith’

  • The Panama Canal Project Facilitates World Trade.

    World Trade Spin

    Jul 17, 12 • 432 Views • No Comments

    We might be able to divide the world between economic thinkers and everyone else. I noted yesterday that economist Gregory Mankiw, as President Bush’s Council of Economic Advisers chair, said that outsourcing was probably a plus in the long run. Hearing......  [read more]

  • arrow...16197_8.8_000011872893XSmall

    Manufacturing and the Market System

    May 30, 12 • 388 Views • No Comments

    Adam Smith might look at recent increases in manufacturing and say, “The market works.” Here are some stories. One furniture manufacturer decided it could make consumers happier by moving back from China. Yes, it would mean paying a sander $10 an......  [read more]

  • decisions dilemmas_000018804553XSmall

    What Should Not Be Sold?

    Apr 28, 12 • 479 Views • No Comments

    Assume you just learned that your mother paid someone to write the (warm and loving) toast she expressed at your wedding. Is that okay? During Bloomberg radio’s On the Economy, referring to a purchased wedding toast, Harvard professor Michael Sandel......  [read more]

  • Decisions Have An Opportunity Cost That Require Tradeoffs

    (Bad) Decisions

    Apr 24, 12 • 532 Views • No Comments

    By Mira Korber, guest blogger. Why might have most notorious fraudsters committed their crimes? The traditional answer seems obvious: severe character flaws, lack of ethics, unbridled greed. But there may be more to the picture than simply this “bad......  [read more]

  • Chinese Consumers and Fresh Apples

    Chinese Economic Growth

    Mar 17, 12 • 611 Views • No Comments

    Our story ends with the recent 2030 Word Bank Report on Chinese economic growth. But we have to start with sunflower seeds. There once was a poor Chinese farmer who believed he could excel at nothing but sunflower seeds. Traditionally sold in stores, in bulk......  [read more]