Sound Economics

In an attempt to unite the campus, University of Puget Sound established one hour every week from noon-1:00pm, locally known on campus as “Common Hour”. This time of the day is supposed to be an hour in which no classes happen in order to allow faculty, staff, and students alike to bond and enjoy the beautiful Pacific Northwest and perhaps mingle over a hot cup of joe in Diversions Cafe. Burnt tongues aside, there are other consequences of the joyous hour. Firstly, since there are no scheduled classes during Common Hour, it seems nearly every club or department decides to Continue reading Common Hour Gone Wrong→

When it comes to inequality there are a lot of phrases that get thrown around: wealth inequality, Income inequality, gini coefficients, etc. Therefore I am going to define a few of these terms to help to clarify the discussion. Wealth inequality is the difference in the distribution of assets (wealth) within the population of a country/society. The measurement for this difference in distribution is called a gini coefficient/index and goes from 1 to 100. Income inequality is a term referring to the differences in the distribution of income income within a society/country and is similar to wealth inequality. These terms Continue reading Wealth Inequality Part 1→

Circular economies are often portrayed as simple combinations of reduce, reuse, and recycle activities as popular definitions have come short of selling the model’s potential to increase economic prosperity, derive more value from inputs, and reduce emissions. Considering our climate emergency and volatile resource markets, a 4R framework, closed-loop production process could be a real contender for transforming our economy.  To understand how this model could reform the current system, a comprehensive explanation of circular economies as a concept is necessary. While there are multiple definitions for the model, the following aims are almost always mentioned: to enable sustainable development at Continue reading A Circular Economy, Explained→

The chill in the air, orange leaves, and Tacoma rain that now graces UPS signal that October, and thus spooky season is in full force. As the nation gears up for football season, the World Series, and pumpkin flavoring, children young and old prepare for Halloween, the holiday of holidays. Although the winter holidays more often elicit ideas of consumerism, Halloween still generates a relatively large surge in household consumption. According to The Balance, last year’s Halloween sales hit $9 billion, just shy of 2017’s $9.1 billion. The Balance sites the National Retail Federation’s annual survey, which found that people Continue reading The Economics of Halloween→

A dualistic view of the world has rapidly gained popularity in recent years. On one side stands the liberal order: advocating of free markets, the consent of the governed, human rights, and representative democracy. On the other: an aberrant authoritarian populism. This emergent axis flirts with ethno-nationalism, expands executive power beyond its bounds, expresses intense skepticism toward globalization, and demonstrates disregard, if not contempt, for civil liberties and the rule of law. This authoritarian creep threatens the tremendous gains that the dominant order has made since the Second World War and may even seek to revive its more abhorrent ideologies. Continue reading Illiberalism or Hyperliberalism? Market Authoritarianism in Context→

The purpose of Trump’s steel and aluminum tariffs is to protect  domestic suppliers and firms as well as to encourage steel/aluminum production in the United States . Tariffs, in general, are a tax on imports to increase the price which results in a larger producer surplus, revenue collected on account of the tariff, and deadweight loss. Overall, tariffs create market inefficiency and hurt the wellbeing of an economy because of it. Of course, there are many more factors to think about. The market for steel and aluminum affects much more than just those involved in the production. It affects all Continue reading Tariffs: Expectations vs. Reality→

The yield curve (showing investment rates over time) is an indicator of an economy’s health. When the curve is sloping up, the economy is expanding and overall doing well. It is when the curve starts to level out that it becomes worrisome as this generally means that an economic slowdown – or recession – is on the rise. Looking at the curve’s latest data from the U.S Department of the Treasury, we are bound to see a slowdown very soon. Slowdown or Recession?: “The United States does not define a recession as two consecutive quarters of shrinking output” however that Continue reading Yield Curve and Politics 101→

The threat of climate change is growing at alarming rates and one player in particular is not helping: airlines. Air travel is one of the most efficient means of travel, but what is it really costing us? Even though air travel is a form of shared transportation (something we tend to think of as having positive externalities associated with lowering our carbon footprint), it is actually making us worse off. Right now, air travel accounts for 2.5 percent of global carbon dioxide emissions, but in thirty-one years, it could take up to a quarter of the world’s carbon budget. In Continue reading Air Travel is Costing Us→

Thank you to all of the writers of Sound Economics for contributing a year’s worth of compelling and original articles. I’ve recently learned that Sound Economics was named one of the Top 100 Economics Blogs of 2019 by Prateek Agarwal of The Intelligent Economist. Congratulations writers!