Economics @ ITT

What If Black America Were a Country?

Posted in economics by ittecon on October 14, 2014

If black America were a nation-state, how would it stack up against other countries? How would it fare on standard measures of national power and weakness?

via What If Black America Were a Country? – The Atlantic.

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Is the 1%’s Lack of Humility Is the Real Problem

Posted in economics by ittecon on September 26, 2014

[I]t’s human nature to show off, all the more so in highly unequal societies, people being the status-conscious beings that they are. It’s futile and beside the point to chide the rich for this behavior.

via Paul Krugman Dismantles the Notion That the 1%’s Lack of Humility Is the Real Problem | Alternet.

An Independent Scotland?

Posted in economics by ittecon on September 9, 2014

[E]verything that has happened in Europe since 2009 or so has demonstrated that sharing a currency without sharing a government is very dangerous.

via Scots, What the Heck? – NYTimes.com.

Obama Outperforms Reagan On Jobs, Growth And Investing

Posted in economics by ittecon on September 8, 2014

Economically, President Obama’s administration has outperformed President Reagan’s in all commonly watched categories.  Simultaneously the current administration has reduced the deficit, which skyrocketed under Reagan. 

via Obama Outperforms Reagan On Jobs, Growth And Investing.

Pay This Bench Money or It Will Poke You with Spikes

Posted in economics by ittecon on June 12, 2014

Economic Value of a Human Life: $0.57

Posted in economics by ittecon on April 3, 2014

Youth Unemployment Is Costing the World Billions

Posted in economics by ittecon on January 23, 2014

In the U.S., the crisis is costing American taxpayers $25 billion annually in the form of lost tax revenue and government benefit payouts, according to a recent report by Young Invincibles, an advocacy organization for young people.

Youth Unemployment Is Costing The World Billions.

Time for a New Theory of the Firm

Posted in economics, microeconomics by ittecon on January 20, 2014

In first year economics when the supply curve was shown as upward sloping, the annoying undergraduate in me asked: why? When we get on to exactly why the supply curve is upward sloping, lo and behold, it is simply a representative firm’s marginal cost curve. Amazing!

But wait. If that’s true then firms operate at a point where there are diseconomies of scale. Yet didn’t most goods come down in price as output increased? What happened to the whole idea of economies of scale?

via Fresh economic thinking: Time for a new theory of the firm.

How Verizon and AT&T Stack the Deck

Posted in economics by ittecon on January 10, 2014

Does Oligopoly sound familiar? Remind you of another game you used to play called Monopoly? You’ve got it. Oligopoly is its first cousin.

via Ripoff nation: How Verizon and AT&T stacked the deck against cellphone users – Salon.com.

What Might the US Government Crisis Cost?

Posted in economics, macroeconomics by ittecon on October 14, 2013

From the fiscal cliff to sequestration to the current shutdown debt ceiling debate: Whats the cost of the U.S. government careening from crisis to crisis?About 900,000 jobs lost … and the potential for another recession.

via Crisis cost? Lost jobs and maybe another recession – NBC News.com.