The Argument Over Free Trade Continues

Read Mankiw's latest regarding the ongoing debate over free trade. Economists and the public are at polar opposites on this issue. Now it is bleeding over into the presidential race.

Candy Sales Going Underground

"Sugar Pushers" roaming our halls. Teachers confiscating candy from students. What is happening in our schools. In Connecticut, an eigth grader and vice president of his class was forced to step down when he was apprehended with an illict bag of skittles. Any thoughts?

Financial Mess

Want a good explanation of the current financial mess the economy is facing, check out Paul Krugman's NY Times editorial. I usually don't agree with Krugman, but this is a very clear and concise explanation of today's banking crisis.

High Price of a Gallon of Gas

The national average is $3.20 per gallon. It will only go higher. At what point do we start making changes in our lifestyles? Will you continue to drive as much as ever, and just cut back elsewhere? Is the demand for gas totally inelastic? Surely, at some point we will start driving less. What are your thoughts?

How Government Makes Things Worse

I know we just had an article on the law of unintended consequences, but I couldn't pass this one up. Ethanol and Sub-prime have more in common than what we would think.

Price of gold soars

The price of gold has reached historic highs. As young economists, can you predict some of the consequences of this? Go beyond the obvious of just more expensive jewelery.

The Scarlet Letter for Drunk Drivers

What do you think of this plan being proposed in the state of Washington? Get convicted of drunk driving and your car is affixed with a bright yellow license plate for a year. Will this serve as a deterrent? The bill's author seems to think it will prevent repeat offenses, and warn the rest of us to give these cars a wide berth. What do you think?

Free Cell Phones for Achievement in School

Obviously, doing well in school should be its own reward. However, in todays society that doesn't seem to be the case. What do you think of this program being tried out in a few Brooklyn middle schools? Free cell phones and minutes for good grades.

Thoughts from a respected Economist

Check out this article from renowned economist, Greg Mankiw. It is a very insightful commentary about the economic problems this country will face in the near future. Dr. Mankiw is an economics professor at Harvard, and he served as head of the Council of Economic Advisors under President Bush. He has also written numerous textbooks on Economics.

The Baby Name Wizard

This is a fun little site. It tracks the popularity of thousands of different baby names. Check out the historical trends. Check out your name and see where it falls on the timeline.

The Death of the CD

This is a short article about downloaded music sales surpassing CD sales by the year 2012. Will CDs go the same route as LPs, 8-tracks, and cassetes?

The Secret to Raising Smart Kids

This article raises the point, it's all about effort and not about talent and ability. What are your thoughts?

The Law of Unintended Consequences Strikes Again

"What do a deaf woman in Los Angeles, a first-century Jewish sandal maker and a red-cockaded woodpecker have in common?"
Politicians would do well to remember a basic principle of Economics, "the law of unintended consequences."

Is it time to say goodbye to the Penny?

Has the venerable $.01 piece outlived its usefulness? Check out the website for some of the arguments in favor of eliminating the penny. What do you think?

Pigou would say, Hooray for the Irish!

A Pigovian tax, named for British economist Arthur Pigou, is a tax aimed at diminishing an activity seen as harmful to society. An example would be a pollution tax on companies guilty of polluting the air or water.
The Irish have taken this step to rid their society of plastic bags. Could we do the same here? Should we? Can you think of other activities that could be taxed?

World Clock

Check out this facinating website. Did any of the numbers surprise or even frighten you?

Bail Bonds; A Purely American Tradition

I did not realize that the use of bailbondsmen was unique to the American Justice system. Read this article and comment; What are your thoughts on allowing people to pay a percentage of their bails to bondsmen in order to get out of jail while awaiting trial? Is it free enterprise at its best? or Is it a practice that needs to be done away with?

Tax Rebates by May

Tax rebates of up to $600 per person could be in our hands by early May. Is this a good idea? Can you think of any drawbacks? Could it just be an election year ploy?

Cash for Grades

The New York school system is considering a plan for rewarding student performance with cash. Do you think this is a good idea?

What does Economics mean to you?

As we embark on this new semester of Economic study, I am curious to know what Economics means to you and what role it plays in your life. Leave your comments.
Mr. Pye