Posts Tagged ‘Adam Smith’

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    Nantucket’s Traffic Lights

    Jul 4, 10 • 190 Views • Economic Thinkers, RegulationNo Comments

    Located 30 miles from Cape Cod, Massachusetts, the island of Nantucket has no traffic lights. Instead, drivers respond to stop signs, rotaries, and courtesy. More often than not, if a pedestrian, a walker, or a biker needs to cross the street, cars stop. When

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    Common Markets

    Jul 1, 10 • 190 Views • Demand, Supply, and Markets, Developing Economies, Economic History, Economic Thinkers, International Trade and FinanceNo Comments

    Kenyan coffee exporters have a problem at the Tanzanian border. “On the Kenyan side they operate 24 hours a day, but on the Tanzanian side it’s 12 …We have had drivers standing at the border for 4 days. These things make the final price of

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    Trivial Pursuits

    Jun 3, 10 • 175 Views • Businesses, Economic History, Economic Thinkers, InnovationNo Comments

    Playing Scrabble in a bar, Canadian journalist Chris Haney and a sports reporter friend thought they could do better. Within an hour, during December, 1979, the two created the idea for Trivial Pursuit and drew an initial version of the game board on bar room

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    From Mill to Obama

    Apr 29, 10 • 188 Views • Economic Thinkers, Government, Thinking EconomicallyNo Comments

    Yesterday, President Obama briefly said that some salaries on Wall Street were more than anyone should earn.  Approximately 160 years ago, John Stuart Mill responded by saying that he wanted to encourage work. Consequently, instead of limiting salaries

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    The Ties That Bind Us

    Apr 23, 10 • 134 Views • Economic Thinkers, International Trade and FinanceNo Comments

    Although Nairobi and London are 4228 miles apart, they actually are closely connected. The NY Times described the tie that was cut by volcanic ash. Kenyans supply gourmet vegetables and cut flowers to European supermarkets. When planes were grounded, so too