Economics @ ITT

High-frequency trader pays $14MM in oil price manipulation case

Posted in economics, macroeconomics, microeconomics, Policy Issues, Regulation by ittecon on April 23, 2012

High-frequency trader Optiver pays $14 million in oil manipulation case | Reuters.

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Single-Payer Health Care: $570 Billion Cheaper

Posted in economics by ittecon on April 16, 2012

Economist Gerald Friedman has what looks to be the silver bullet against the claim that single-payer health care is infeasible on economic grounds, showing how “Medicare for all” could save billions of dollars while improving millions of lives.

via Single-Payer Health Care: $570 Billion Cheaper – Truthdig.

Privatisation’s Worse Case Scenario

Posted in antitrust, economics, Policy Issues, Regulation by ittecon on April 16, 2012

“Under the $563 million, 99-year deal that privatized four city-owned parking garages in downtown Chicago, City Hall made a promise” to ensure that the parking garages would not be subject to any competition. Where are the free marketists now?

via Chicago faces $200 million claim over privatized parking garage – Chicago Sun-Times.

“How to Create a Depression” by Martin Feldstein

Posted in economics, macroeconomics by ittecon on April 9, 2012

European political leaders may be about to agree to a fiscal plan which, if implemented, could push Europe into a major depression. To understand why, it is useful to compare how European countries responded to downturns in demand before and after they adopted the euro.

“How to Create a Depression” by Martin Feldstein.