Posts Tagged ‘the market’

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    Demand and Supply: The Ethanol Mandate

    Mar 20, 13 • 287 Views • No Comments

    Several years ago, when former Treasury Secretary Lawrence Summers walked past me, I stopped him with a question. “What is the most important economic idea to teach my students,” I asked. Without missing a beat, he said, “the power of the...  [read more]

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    What Should Not Be Sold?

    Apr 28, 12 • 260 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]

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    The Power of the Market: Part 1

    Jul 27, 11 • 259 Views • No Comments

    Maybe the market is more powerful than the Congress. First, some history… Hoping that farmers would earn a living wage, in 1933, the U.S. government decided to subsidize crop prices. The goal was “parity,” a level of purchasing power that...  [read more]

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    The Right Stuff

    Feb 10, 11 • 223 Views • No Comments

    Giving a grade of “One Pinocchio,” the Washington Post assessed the accuracy of President Obama’s February 7, 2011 speech to the U.S. Chamber of Commerce. Most interesting, though, were the topics on which he focused. Yes, President Obama...  [read more]

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    Kidney Markets?

    Sep 8, 10 • 398 Views • 3 Comments

    What should we be able to buy and sell? Alcohol? Land? People? Body Parts? In a Teaching Company lecture on organ transplants, Wake Forest economist Robert Whaples says that the answers depend on the market’s boundaries. And, he soon adds, those...  [read more]