Microeconomics throughout the years has always been ridiculed by other scientists, such as philosopher of science Alexander Rosenberg, for its seemingly weak ability to create valid empirical predictions or explanations. Although those are outside critiques, truth be told, economists also argue over the validity of each others works more often then one might think. More simply, there is not one universal way that economists look at empirically solving, predicating or explaining questions. Evidently, this generally creates huge competition in the field with inconclusive debates, and also supports the beliefs of critics. A recent article from The Economist provides a clear Continue reading Critique

Spotify Strives to Secure Cheaper Licensing Deals Ahead of Possible IPO Launch

Digital streaming services that provide music and video to their users are becoming more and more commonplace, and as such it is no surprise that content creators are always looking to partner with the service that with give them the most lucrative deal. This leads to fierce competition between streaming services as they vie for the most popular content, while attempting to keep their own costs down. In an age where artists and content creators are somewhat spoiled for choice, the small differences between different services can often make or break a deal. Such is the case for the immensely Continue reading Spotify Strives to Secure Cheaper Licensing Deals Ahead of Possible IPO Launch

A Different Perspective on Empathy

Paul Bloom, a psychologist at Yale University, takes a stance against using empathy as a motivational tool for charitable giving in his new book, “Against Empathy.” The definition of empathy used by many focuses on the ability to feel another person’s emotions or feelings in general. Bloom argues that this type of perspective is actually harmful in many different aspects when it comes to making decisions of morality. In a recent episode of Econtalk, Russ Roberts meets with Bloom to discuss this view of empathy that could be seen as controversial to many. Bloom’s main argument focuses on this definition Continue reading A Different Perspective on Empathy

Game Theory of Super Smash Bros. Melee

I’m going to completely nerd out for this post (not that I haven’t been doing that in the past). I’m going to be telling you about my favorite video game, Super Smash Bros. Melee, and more specifically, about some of the Game Theory involved in competitive play. But first, there are a few aspects of the game that I need to talk about first. In Melee, unlike most other fighting games, the characters don’t have life-meters. In order to take a life, a character has to be hit beyond the boundaries of the stage. Each hit that a character takes Continue reading Game Theory of Super Smash Bros. Melee

Thesis Corner: Interview with Alex Shaw on Wages Between Different Countries

This week, I interviewed our own Alex Shaw for our first Thesis Corner of 2017. Take a read! Can you explain to our wonderful readers what your topic is? Yeah, I’ll give it a shot. So, my topic is about comparing wages across countries and essentially using a measure PPP to control those wages their actual buying power within the country that they are in. What made you choose that topic? I originally wanted to do something more along the lines of income by college major but if you Google that you’ll find many articles that have covered that pretty Continue reading Thesis Corner: Interview with Alex Shaw on Wages Between Different Countries

The Drink Exchange

The Drink Exchange is an increasingly popular software being implemented in bars across the world. How it Works Designed to mimic the real-world Stock Market, prices of drinks rise and fall depending on popularity. Television screens across the bar show real time prices of drinks that change by the minute depending on supply and demand. This may be the only market in the world where everyone is hoping for a crash. Promotions As for now, customers are fighting to purchase drinks at the lowest price they can. In the future, however, the company plans to incorporate more Stock Market themed Continue reading The Drink Exchange

Fake Milk: An Introduction

I recently read an article from the Associated Press called: ‘Fake milk’ is the latest food fight among industry leaders. It discussed contentions surrounding guidelines for what is or isn’t milk according to the Food and Drug Administration. Essentially, dairy producers argued that their use of milk was misleading, and in violation of the FDA’s standard of identity for milk which states “complete milking of one or more healthy cows.” Proponents of alternative milk argued that these standards of identity are too restrictive, or just aren’t relevant. In this post, I will focus mostly on the economics of milk and milk Continue reading Fake Milk: An Introduction

The Expectation Game

Recent news from the head of the FED Janet Yellen has led to an increase in confidence that interest rates will be raised. The meaning behind the potential rise of interest rates is two-sided. While some are scared and unsure about the implications of the increase, others see the positive side of what the increase actually means. In 2008 when the U.S. experienced the Great Recession, the FED dropped the interest rate to zero. By dropping the rate to zero, the FED intended to get the economy back on its feet. More than 6 years later the rate has barely Continue reading The Expectation Game

Medical Professionals Begin to Weigh “Financial Toxicity” in the Balance for Cancer Patients

The interaction between health and money is well-established in America. Money does not necessarily imply perfect health, but rather that should a serious illness crop up, wealthy individuals have the resources to address it with the best treatments available. Of course, this approach is not possible for all Americans, and a series of recent studies have begun to investigate just what happens to patients when the cost of prescribed cancer treatment is out of reach. A recent article published by NPR provides a number of truly stunning statistics, and I strongly encourage readers to give it a look. The research Continue reading Medical Professionals Begin to Weigh “Financial Toxicity” in the Balance for Cancer Patients

Not enough workers? The problem Denmark faces

It’s not often that you see countries have a lack of workers available across the nation, but it is the problem that Denmark has on its hands right now. An article from the New York Times outlines what the Danes are dealing with currently, but they simply don’t have enough skilled workers available to fill the jobs they need. The unemployment rate is at 4.3%, and has recovered extremely fast after the recession that hit across Europe. If the unemployment rate goes any lower, the country could run into inflation problems. The NYT notes that this has occurred before: During an economic Continue reading Not enough workers? The problem Denmark faces