Posts Tagged ‘China’

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    Tricky Oil Questions

    Jun 17, 12 • 524 Views • No Comments

    1. Asked to list the world’s biggest oil consumers, most of us would be correct if we started with the US and China. With the US at 20.5% and China, 11.4% for 2011, we are almost at one-third of world consumption. 2. But then, it gets a bit tricky.......  [read more]

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    What If More People Wore Eyeglasses?

    Jun 10, 12 • 625 Views • No Comments

    We could say that eyeglasses are like bookends when they relate to economic growth. Our story starts during the 13th century. Before the spread of eyeglasses, the work life of skilled craftsmen usually ended when they could no longer see close objects......  [read more]

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    Manufacturing and the Market System

    May 30, 12 • 492 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]

  • Our Transportation Infrastructure is Crumbling

    Cars and the Middle Class in Developing Nations

    May 26, 12 • 613 Views • No Comments

    What does it mean to be middle class? For a developing nation like China, income might be the key. If someone earns between $10 and $50 a day, then that person is middle class. Or perhaps you just need to be able to buy a tall macchiato at a Starbucks or a......  [read more]

  • Everyday economics and Shake Shack

    (Mc)Wages Around the World

    May 21, 12 • 5856 Views • No Comments

    It can be tough to compare wages around the world. While lots of people could be called iPhone assemblers or auto workers or t-shirt makers, depending on the country, factory conditions, time off, the work day, all really differ. Not for McDonald’s. At......  [read more]