Economists are not trained in climate science, so we can’t say how much carbon dioxide will warm the planet, but economics is an important part of climate policy–this is our collective response to the threat of global warming. How much…
Blog Archives
The political economy of farm policy
Below is a map of farm subsidy payments. These are the addresses where farm “welfare” checks were sent and the bigger circles show addresses that got sent up to ¼ million dollars in 2007 alone. This map comes from an…
Posted in Globalization & International
How climate skeptics are distributed across America
The Yale School of Forestry & Environmental Studies has data about public perceptions on the facts of global warming. As of 2018, almost twice as many Americans believe global warming is caused by humans as those who disagree (57% to…
Posted in Environment
1/3 of Bloomberg articles are written by artificial intelligence!
Artificial intelligence and automation is taking over more and more jobs. Daron Acemoglu and Pascual Restrepo recently produced research confirming that: the recent stagnation of labor demand is explained by an acceleration of automation, particularly in manufacturing, and a deceleration…
Posted in Globalization & International, Inequality
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
Medianism 