While many economists study the sorts of things that most people think of as “economics” — inflation, unemployment, international trade — others delve into topics that seem to stretch the assumed limits of the discipline. The economics of holidays is…
Cutting waste is easier said than done
A recent argument in this newspaper about the Milk Income Loss Compensation program is a case study in the difficulty of cutting wasteful spending. Many believe that much federal spending is unnecessary. Few, however, can agree on exactly what to…
“Full employment” is hard to quantify
What is full employment and how will we know when we have it? That question arose in response to Tuesday’s news that the number of Minnesotans with jobs had increased and that the unemployment rate had decreased. That is good…
“Free trade” not that free under treaties
My son would love last week’s news report about the popularity of Mexican-made Coca-Cola in some U.S. specialty stores. Having spent several summer study terms in Mexico, he is quick to assert that Mexican Coke, which is made with sugar…