Why Equality Matters More Than Income
Looking at children’s wellbeing in rich countries like the U.S. in 2007, scholars found that inequality may matter a lot more for kids’ lives than absolute income level.
Why Are Diamonds More Expensive Than Water?
Water is simultaneously one of the few things we absolutely cannot live without, and one of the things we value least. There's an economic rationale behind that.
The Cautionary Tale of India’s Private Hospitals
In 1985, a writer in Economic and Political Weekly saw the beginning of private hospitals in India and warned of the dangers of their mismanagement.
Why Economists Make Terrible Fortunetellers
Even the (presumably rational) economists of the world love to try to predict the future. They often get it wrong, suggesting that all the rational data in the world is rendered useless by the irrationality of human behavior.
Why People Want to Be Fitness Instructors
Being a fitness instructor isn’t a very highly-paid job, but, researchers found that the job provides other rewards for the people who love it.
The Different Meanings of Monopoly
Monopoly's real inventor was Lizzie Magie, a progressive Georgist, who believed that land should be collectively owned by all.
When People Thought Charitable Donations Would Save Their Souls
As the Middle Ages progressed, monasteries became a major engine of economic activity in European communities.
Are Free Markets Fictional?
Back in the 1940s, when America's post-war economic system was taking shape, many popular economists agreed that “free markets” were a fiction.
Elizabeth Warren
An early paper by Elizabeth Warren argues for a Financial Product Safety Commission that would regulate financial products.
Wampum was Massachusetts’ First Legal Currency
First Nations' seashell-derived wampum was Massachusetts' first legal currency, used as currency throughout northeastern America into the 19th century.