Higher Rock Education - Economics Blog

Four Historical Recalls

Wednesday, October 19, 2016

Do you own a Samsung Galaxy Note 7, or perhaps a Honda with a Takata airbag? Do you own a car? If so, then you have probably received a recall notice. There have been several very large recalls in the past two years, so I decided to highlight a few of the most interesting ones during my life. More

Contracts and Incentives - Drs. Hart and Holmstrom Awarded the Nobel Memorial Prize in Economic Science

Wednesday, October 12, 2016

I am amazed when I read about CEOs who are paid 10s of millions or even over $100 million dollars. Are they really worth that much? I consider myself a free market economist, so I would never deny them the right to earn that much if someone is willing to pay them, but I confess I wonder how their salaries can be justified. More

Questions to Consider as the 2016 Presidential Election Fast Approaches

Friday, October 07, 2016

The United States is deep into the 2016 political season. We are bombarded with promises about tax cuts and spending increases. Who should we believe? Which proposals are the best for the economy? The solution is very complex, and there are very bright economists that differ on the best solution. Some argue that increasing government spending advances economic growth by redistributing income to people who are more likely to spend it. More

Rain or Shine - Weather Can Influence Supply and Demand

Tuesday, October 04, 2016

International budget clothes retailer Primark recently made the news by blaming the weather for a fall in sales. Essentially, said Primark, the warm weather in the run-up to Christmas 2015 meant that people simply didn't buy as many clothes. This, of course, was followed by an unseasonably cool spring, which only added to the problem by slowing down the sales of summer clothes. With limited warehouse space and deliveries constantly on the way from countries halfway across the world, Primark couldn't simply sit on the stock they had. More

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