Economics @ ITT

Boeing received banned subsidies — WTO

Posted in economics, International Economics by ittecon on March 31, 2011

Boeing received banned subsidies — WTO – Business – U.S. business – Aviation – msnbc.com.

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FDA to weigh if food dyes make kids hyperactive

Posted in economics, Regulation by ittecon on March 26, 2011

Manufacturers say reviews by regulators around the world confirm the dyes are safe. The Center for Science in the Public Interest argues, however, there is plenty of data showing the dyes trigger hyperactivity in kids who are predisposed to it.

FDA to weigh if food dyes make kids hyper – Health – Kids and parenting.

Why Is the American Economy Still Stalled

Posted in economics by ittecon on March 25, 2011

The chairman and editor in chief of U.S. News & World Report argues that the situation is less visible than it might otherwise be as our social safety net is partially masking the real situation: “The modern-day soup line is a check in the mail”.

The Sceptical Market Observer: Why Is the American Economy Still Stalled.

Americans say save the economy, not the planet

Posted in economics, environment by ittecon on March 22, 2011

The Great Recession appears to have had a big – and negative – impact on Americans’ sympathy for Mother Earth.

Read:  Americans say save the economy, not the planet.

The War on Elizabeth Warren

Posted in economics, Policy Issues, Regulation by ittecon on March 21, 2011

When the 2008 financial crisis struck, many observers—myself included—thought that it would force opponents of financial regulation to rethink their position. After all, conservatives hailed the debt boom of the Bush years as a triumph of free-market finance right up to the moment it turned into a disastrous bust.

But we underestimated the speed and determination with which opponents of regulation would rewrite history. Almost instantly, that free-market boom was retroactively reinterpreted; it became a disaster brought on by, you guessed it, excessive government intervention.

Paul Krugman write in The War on Elizabeth Warren – NYTimes.com

Crime Rates Are Plummeting—And No One Knows Why

Posted in economics, Policy Issues by ittecon on March 21, 2011

Alternet’s piece Crime Rates Are Plummeting—And No One Knows Why poses the question, “Could it be that America is actually turning less violent? Or are we as violent as ever — but have simply found different ways of assuaging our urges?”

It posits that crime is a choice, and when options are limited, the choice becomes crime. Economics is about choices such as this. It also separates Conservative and Progressive worldviews. Conservatives tend to believe that people are inherently bad. Therefore, our criminal justice system is based on punishment and on the Christian concept of penance, hence penitentiary. Progressives tend to believe that people are inherently good. They believe that people react to fairness, and where the deck appears to be stacked against someone, the reaction may be to act out or to commit a crime to take what’s owed them. As animals, humans are opportunistic, so there is more than one motivator; nonetheless, the concept of equity is important.

Nuclear Hubris: Could Japans Disaster Happen Here? | The Nation

Posted in economics, environment, microeconomics, Policy Issues by ittecon on March 15, 2011

Politicians Push Gold Standard: Have Americans Totally Lost Trust in Our Institutions?

Posted in economics, macroeconomics, Policy Issues by ittecon on March 9, 2011

People across the United States are losing trust in the dollar. Georgia, Virginia and 9 other states have considered so-called “Constitutional tender” laws that would require, in at least some cases, that state governments collect and make payments only in gold or silver. South Carolina and Virginia are considering creating their own currencies. Utah legislators just passed a bill allowing the use of gold and silver currency.

Politicians Push Gold Standard: Have Americans Totally Lost Trust in Our Institutions? | | AlterNet.