Study philosophy!


It has previously been shown that the relationship between one’s major and one’s starting salary is significant. Not too unexpectedly, this is the pattern:

[I'm much pleased by the fact that Economics is 4th, behind only Engineering, Computer Programming (are you reading, KJ?) and Mathematics, and ahead of all the other social sciences. Philosophy is dead [...]

Minimum Wage Harms Nation’s Youth

minimum-wage-harms-nations-youth

Nothing new, of course. As has happened every time the minimum wage was increased over the past 73 years, teen unemployment is up this summer.The Examiner has it:
This year, it’s harder than ever for teens to find a summer job. Researchers at Northeastern University described summer 2007 as “the worst in post-World War II history” [...]

Update on Linden Dollars

update-on-linden-dollars

[I'm a] PC Site has been following the currency system of Second Life, Linden Dollars, for some time now. The virtual currency is used to buy and sell real estate and accessories in the game, and is exchanged for roughly 250 per USD$1. Tyler Cowen, economics professor at George Mason University, has a post on [...]

Maxine Waters can’t say the word socialize


Hat tip Bob Murphy at Mises.org.

Don’t Drink Beer in Zimbabwe

dont-drink-beer-in-zimbabwe

We in the US complain about 0.2% rates of month-on-month price inflation, but Zimbabwe really takes the cake:
During the meal, one of my mates was drinking beer — 750ml bottles of Castle Lager (fondly called bombers). He ordered a fifth one, was advised that the price, which when he ordered his first, second, third and [...]

You Are Too Healthy

you-are-too-healthy

Or so says a National Bureau of Economic Research working paper, “The Other Ex-Ante Moral Hazard in Health”, via MarginalRevolution and The Economist blog.
As The Economist has it:
IF WE all had malaria, the incentive to pharmaceutical companies to develop a cure for malaria would be massive. In all probability, some company would then develop [...]

Second Life Industrial Revolution?

second-life-industrial-revolution

Apparently some people care so much about Second Life that they write articles on its economy.
“Returning to the concept of capital, we might wonder whether Second Life’s economy will eventually make more intensive use of capital and evolve out of its current cottage-industry method of production. Given that the real-world economy did just that, it [...]

Recession?

recession

Despite what Great Decider Bush has pronounced, the US seems more and more likely to fall into a recession.
From The Economist blog:
Weekly jobless claims rose by 22,000 last week, a far higher increase than had been expected, and the average over four weeks reached its lowest level since the the active hurricane season of [...]

Look at ‘em go!

look-at-em-go

Stocks, that is. The Dow Jones Industrial Average is down 500 points, as of this writing, since Thursday. Chairman of the Central Planning Board Federal Reserve, Ben Bernanke, has cut interest rates by .75 percentage points, i.e., he intends to put off the recession until it grows so bad that it’s impossible to continue inflating.

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