Myths of Econ 101
Economics as a Science?
By Johnny Fulfer. Is economics a science? Could it be? Should it be? The debate is as alive today as it was in the early twentieth century. This article reviews
Economic Questions
YSI’s Community Blog
Policy Matters
Let’s face it: Monetary Policy is Failing
By Nikolaos Bourtzis. Monetary policy has become the first line of defense against economic slowdowns — it’s especially taken the driver’s seat in combating the crisis that began in 2007. Headlines
Policy Matters
USA 2017 Q1 Sectoral Balances Update
Sectoral analysis provides a key framework for understanding the macroeconomy. GDP is a flow representing the value of all goods and services produced in a specific time period. This flow
Global Economy
Trump’s Cuba Policy Will Hurt, Not Help Cubans
In a speech showing no regard to Cuban’s historical sensitivities, Trump announced from Miami that he was “canceling the last administration’s completely one-sided deal with Cuba.” By that he meant
(Un)employment
Think Uber’s Problems Stop at Its Management and Culture? Think Again.
Keep track of all of Uber’s problems with The Big List of Uber’s Controversies. In February 2017, Susan Fowler published a blog post detailing the sexual harassment and gender discrimination
Myths of Econ 101
It’s gotta be true, because data says so
Data and statistics are everywhere, especially in economics. But we forget that empirical results are often manipulated, biased, or inconclusive. To ensure we design policies responsibly, we must meet empirical
(Un)employment
What is the Minimum Wage that Will Employ Everyone?
It is official, the unemployment rate in the US has dropped to its lowest level in 16 years. Economists all around the country must be tapping themselves in the back
Democracy & Governance
Greece has a Private Debt Crisis and We Can Blame the Troika
The Greek public debt debacle and the bailout received by the government from the European Central Bank (ECB), the European Commission (EC), and the International Monetary Fund (IMF) – referred
Book Reviews
Doughnut Economics – Grab a pencil, draw a doughnut!
Many of us know we need to rethink economics, but Kate Raworth actually did it. Envisioning the economy as a doughnut, two boundaries become clear. If we fall into the
Myths of Econ 101
Going Beyond Exchange
Traditional economics reveals the dynamics of exchange. But is that all there is? Late economist Kenneth Boulding recommends that we look further. Once we consider that some transactions only go
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