Recent Posts
(Note: Page numbers referenced in posts prior to June 1, 2011 refer to 5th edition)
November 23
Thanksgiving Shopping Advice
Steve Sexton argues that buying locally grown food is not better for the environment.
Textbook References:
Pages 10-11 “Principle 6: Markets Are Usually A Good Way To Organize Economic Activity”Chapter 3 “Interdependence and the Gains from Trade”
March 30
Should the United States depend on foreign suppliers for vital resources?
Allen Sanderson provides a humorous view of protectionists.
Textbook References:
Pages 58-59 “Should the United States Trade with Other Countries?”Pages 188-194 “The Arguments for Restricting Trade”
February 18
Reinhardt on Trade
Uwe Reinhardt discusses the value of free trade, and presents a concern about it from Alan Blinder.
Textbook References:
Chapter 3 “Interdependence and the Gains from Trade”Pages 180-188 “The Winners and Losers from Trade”
February 12
The Case against "Winning the Future"
Trade is mutually beneficial and is not a competition to be "won."
Textbook References:
Chapter 3 “Interdependence and the Gains from Trade”February 8
On Comparative Advantage, Imperfect Information, and Boston Weather
Why did Mankiw shovel snow off of his roof instead of hiring someone else to do it?
Textbook References:
Pages 58 “Should Tiger Woods Mow His Own Lawn?”Page 84 “Price Increases After Natural Disasters”
February 6
The State of U.S. Manufacturing
Despite the decline in factory jobs, the U.S. still leads the world in manufacturing.
Textbook References:
Pages 58-59 “Should the United States Trade with Other Countries?”Page 417 “The Loss of Manufacturing Jobs”
January 31
Would you call Gary Becker for marital advice?
Paula Szuchman argues that economics offers insights into successful marriages.
Textbook References:
Pages 7-8 “Principle 4: People Respond to Incentives”Pages 52-53 “Specialization and Trade”
Pages 54-57 “Comparative Advantage: The Driving Force of Specialization”
July 19
The Principle of Comparative Advantage Applies Even To Union Picketing
Non-union workers are earning minimum wage picketing for a union. The union is upset that its employer has hired non-union workers.
Textbook References:
Pages 54-57 “Comparative Advantage: The Driving Force of Specialization”Pages 629-631 “Unions and Collective Bargaining”
February 4
Defending Jobs Abroad
Matthew Slaughter argues that taxing U.S. firms' foreign operations will destroy jobs in the U.S.
Textbook References:
Pages 7-8 “Principle 4: People Respond to Incentives”Page 8 “Principle 5: Trade Can Make Everyone Better Off”
Pages 54-57 “Comparative Advantage: The Driving Force of Specialization”
Page 567 “Free Trade”
December 18
Reinhardt on Drug Reimportation
Uwe Reinhardt argues that American politicians are unwilling to fix prices for prescription drugs, so they want foreign governments to do it for them.
Textbook References:
Chapter 3 “Interdependence and the Gains from Trade”
Pages 208-209 “Technology Spillovers, Industrial Policy, and Patent Protection”
Pages 326-331 “Price Discrimination”
December 4
What Responsibilities Should the Fed Have?
Vincent Reinhart argues that the Fed may be asked to do too much.
Textbook References:
Pages Pages 54-57 “Comparative Advantage: The Driving Force of Specialization”
Pages 648-649 “Federal Reserve System”
October 20
More Shots in the Trade War
China imposes a new tariff on nylon in a tit for tat trade war with the U.S.
Textbook References:
Page 8 “Principal 5: Trade Can Make Everyone Better Off”
Chapter 3 “Interdependence and the Gains from Trade”
Pages 183-185 “The Effects of a Tariff”
Pages 728-730 “Trade Policy”
Apr. 6
The Four Pillars of Sound Policy
Edward Glaeser worries that the “Washington Consensus” (fiscal restraint, the rule of law, free trade and privitazation) may be coming to an end.
Textbook References:
Pages7-8 “Principle 4: People Respond to Incentives”
Pages 8-10 “Principle 6: Markets Are Usually A Good Way To Organize Economic Activity”
Pages 10-12 “Principle 7: Governments Can Sometimes Improve Market Outcomes”
Chapter 3 “Interdependence and the Gains from Trade”
Pages 566-567 “Property Rights and Political Stability”
Pages 589-593 “Policy 3: Government Budget Deficits”