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Gravity equation of trade

Suppose you have a big import-export business in Puerto Rica located between the Caribbean Sea and the Atlantic Ocean. What countries would you want to trade with most? The most convenient locations would be the closest nations, but the closest

Posted in Globalization & International

Corporations see a high-income world even though it is mainly middle-income

OpenStax is another high-quality open-source economics textbook provider and they produced a graph comparing the distribution of global income versus the distribution of global population. Hans Rosling found that most people incorrectly think that most of the world is poor,

Posted in Development, Globalization & International

Odd patterns in American foreign investment

Core Economics is an open-source economics textbook project based in Europe which has produced an innovative approach to teaching economics. They produced the graph below which shows “the destination of investments by US companies when they invested directly in other

Posted in Globalization & International

Peak globalization?

The first wave of globalization happened due to technological advances in transportation and communication that dramatically reduced transactions costs in the 1800s:  Railroads, steel-hulled ships, the screw propeller, telegraph, etc.  Then politicians raised tariffs, restricted immigration, and went to war

Posted in Globalization & International

What are the cheapest countries to visit? See the Travel Cost Index.

I searched Google for information about what nations are the cheapest for travelers, and although there is a lot of interest about this topic on blogs and discussion forums, I found no good hard data on the internet.  This is

Posted in Globalization & International

The expected value of potential lives lost during atomic testing

Rob Reid wrote a great explanation of the horrible risk taken during the Manhattan Project, when American nuclear scientists took a chance estimated at one-in-three million that the first atomic test would create a chain reaction that would ignite the

Posted in Globalization & International, Health, Managerial Micro, Violence & Peace

International trade and immigration have been getting more popular since Trump was elected

Today Trump and his allies on Fox News claimed to have replaced NAFTA. In reality, his deal only affects a tiny amount of NAFTA trade and legally only Congress can repeal NAFTA. But Trump’s announcement demonstrates his desire to show

Posted in Globalization & International

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