Economics @ ITT

Clothing Manufacturer to Move Some Production Outside of China

Posted in economics by ittecon on February 11, 2013

Video – Manufacturer for Ralph Lauren, J. Crew and Uniqlo Aims to Move Some Production Outside of China – WSJ.com.

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How One Guy Prefers To Fight Back Against Companies Dissing Your Girlfriend

Posted in economics by ittecon on February 8, 2013

I am not a fan of Libertarian favourite economist, von Mises, but I agree with his position on intellectual property. Whilst to me property cannot be justified—though it can be rationailsed—, so-called “intellectual property” is an extension of state power rather than of “ownership” and is antithetical to free markets.

Have a Coke and a smile

How One Guy Prefers To Fight Back Against Companies Dissing Your Girlfriend.

The Geithner Doctrine

Posted in economics, Moral Hazard by ittecon on February 7, 2013

Now that Tim Geithner has resigned as US Treasury secretary, it is time to survey the damage wrought from four years of his approach to the financial crisis. The “Geithner doctrine” made the preservation of the largest banks, no matter the consequences, a top priority of the US government. Aside from moral hazard, it has also meant the perversion of the US criminal justice system. The US faces a two-tiered system of justice that, if left unchecked by the incoming Treasury and regulatory teams, all but assures more excessive risk-taking, more crime and more crises.

via The Geithner Doctrine | LinkedIn.

The Legacy of Chattel Slavery: Private Prisons Blur the Line Between Real People and Real Estate

Posted in economics by ittecon on February 6, 2013

“All servants imported and brought into the country … who were not Christians in their native country … shall be accounted and be slaves. All Negro, mulatto and Indian slaves within this dominion … shall be held to be real estate. If any slave resist his master … correcting such slave, and shall happen to be killed in such correction … the master shall be free of all punishment … as if such accident never happened.”

via The Legacy of Chattel Slavery: Private Prisons Blur the Line Between Real People and Real Estate With New IRS Property Gambit.

Time is money: Opportunity costs

Posted in economics by ittecon on February 6, 2013

I tell my micro students everything I teach them is important, but the truth is that some things are more useful than others, and opportunity cost is near the top.

via Time is money: Opportunity cost can help you figure out how much your time is worth. – Slate Magazine.