2008 Financial Crisis Under the Magnifying Glass

It may be almost a decade after the 2008 financial crisis shook the US economy, but economists and financial managers are still trying to snuff out the causes of this pandemic. The idea of a “housing bubble” has been used to describe the confusion and ignorance around the risks of the housing market leading up to the collapse. This concept connects many different pieces within the US housing market, from borrowers to lenders to big players on Wall Street. But it is difficult for economists to pinpoint one key cause of this crisis. So the magnifying glass has been placed Continue reading 2008 Financial Crisis Under the Magnifying Glass

Fitness Apartheid? A moral look at price discrimination

Fitness Apartheid. That’s right, apartheid. That’s one way the housing market in New York City has been described recently by a tenant. An inflammatory word? Absolutely. Comparing exclusive fitness centers to an entire history of racially based and politically enforced segregation is entirely inappropriate and I don’t support it in the least. However, the housing market in New York is a battle ground and the actions that landlords are taking have become downright offensive. This episode of Freakonomics explores the idea of price discrimination through first class airplane seats, “the poor door”, and yes, an exclusive fitness center. To listen to the episode, Continue reading Fitness Apartheid? A moral look at price discrimination