Clothing Rack full of T-Shirts at a Thrift Store

How Thrift Stores Were Born

According to the Association of Retail Professionals, about 16 to 18 percent of Americans shop at thrift stores in any given year.
Richard Thaler

Richard H. Thaler

Richard H. Thaler was awarded the 2017 Nobel Memorial Prize in Economic Sciences. More on his theory that when it comes to money, people are irrational.
Close-up of colourful tulip flowers

What Do Bitcoin and Tulips Have In Common?

What can we learn from the extraordinary period in Holland's history when a surge in demand for tulip bulbs pushed the price up to exorbitant rates?
Virgin Islands hurricane damage

After the Hurricanes, Who Cleans Up The Caribbean?

The Caribbean islands' plights have been reminders that despite their small size, overseas territories can be a big responsibility for governments abroad.
Bangalore street

Are There Other Silicon Valleys?

The phrase "Silicon Valley" conjures images of a crowded mini-metropolis in California, and a barrage of familiar Western brands. That's about to change.
San Juan Puerto Rico

What the U.S. Owes Puerto Rico

As historian Déborah Berman Santana writes, the U.S. is very much responsible for molding Puerto Rico’s economy to begin with.
Padlock laptop

The New Censorship

Americans will rail against the government at First Amendment infringements. But the government isn't the only entity that can censor speech or ideas.
credit cards on dollars

How Credit Reporting Agencies Got Their Power

Early credit reporting companies urged people to “Treat their credit as a sacred trust” and argued that keeping a good credit record was a moral concern.
Juicero patent

The Most Important Rule for Startup Success

Startups often don't play by the rules. But a wifi-enabled juicer may have been "trying to solve a problem that didn't exist."
A posh young woman reclining on a deck chair with her hands behind her head

Luxury: Enemy of Virtue, or Economic Engine?

Today, economists tend to see anything that boosts consumption and production as a good thing. But that was decidedly not the case in earlier centuries.