People play little games with themselves. One I play involves changing prices to 1967 dollars when contemplating a purchase. This is dangerous for my finances. For example, I see a socket set on sale for $9.99. I already own many…
The work behind jobless figures
Tuesday’s announcement of the latest employment statistics for Minnesota offers an example of the classic question: Is the glass half full or half empty? The unemployment rate for December ticked up one-tenth of a percentage point, from 4.6 percent of…
How can we use more oil, have more oil?
Shell Petroleum recently made news by cutting its estimate of its proved oil reserves. This won’t affect the overall economy, but it does highlight an oft-misunderstood statistic — “proved oil reserves.” In 1980, the world’s proved reserves were 650 billion…
Immigration arguments need work
President Bush touched off a debate on immigration with his recent proposal for changes in U.S. treatment of illegal immigrants. Just as it was 100 years ago, immigration remains a core policy issue with myriad economic implications. More than a…