Wealth Inequality Part 2

This is a post is part of my continuing coverage of wealth inequality Wealth Inequality is one of the largest issues facing societies around the world today, with the consequences being societal unrest and dissolution. The true scale of wealth inequality is almost hard to imagine with disparities growing increasingly large. There are multiple ways scholars/policy makers have suggested to decrease wealth inequality, but I am going to focus on two direct ones: taxing wealth, and taxing inheritance. Wealth taxes, as discussed in the previous post, are direct taxes on the assets on citizens of a country. Inheritance taxes are Continue reading Wealth Inequality Part 2

An Economic Case for Government News

In the current media landscape it can feel as if there is no escape from clickbait/hyperbole, fake news, and sensationalism. These problems seem so large that many are demanding grand government, or private sector solutions such as censorship and monitoring of news/news-like creations.  However, if we look to the past there is a much easier method for correcting some of the model day problems: publicly funded news. In the early 1900s many newspapers engaged in tactics of story fabrication/embellishment, cheap gimmicks, and badly sourced stories, in order to engage audiences. These papers, called yellow papers, were then sold for a Continue reading An Economic Case for Government News

Op-Ed: The Swamp needs Draining

Disclaimer: We all know the bureaucracy and have formed our own opinions. The author (that’s me!) has decided that he doesn’t like most bureaucracies. Therefore, the views expressed in this article are his and do not reflect the stance of Sound Economics at large. If you are a fan of bureaucracies, and/or you think this article may hit a little close to home, simply click on over to Brennan’s fantastic piece on umbrella usage. If you feel as though the above qualifiers do not apply to you, I welcome you with great excitement to continue along with me now and read Continue reading Op-Ed: The Swamp needs Draining

Should You Use a Umbrella?

Disclaimer: none of the views expressed in this post should be taken too seriously The answer is pretty simple if you live in most of the United States: yes, you should use an umbrella. However, if you are living in Washington, you need to factor in the weird weather patterns and the social ridicule. These are both important elements that can affect your choice in attire/accessories to deal with the weather. In Washington we have about three types of rain: a little stronger than a drizzle, a decent rain, and “its-below-freezing-oh-dear-god-why-can’t-it-just-snow-this-is-so-much-worse.” It is important to note that in Washington you Continue reading Should You Use a Umbrella?

A Taste for Cohabitation

In the past couple of decades the U.S. has seen a shift away from marriage, and towards cohabitation. The declining rate of marriages can be contextualized by the declining rate of religious worship given that marriage often a primarily religious act. However, marriage is also an economic act as married couples can enjoy benefits such as shared insurance benefits, shared pension/retirement benefits, shared social security, and tax benefits. These economic benefits are mostly marriage specific as common-law marriage is not very common in the U.S. This means that we can view these benefits as economic incentives to get married under Continue reading A Taste for Cohabitation

The Economics of Menstrual Hygiene Management

Menstrual hygiene management (MHM) is closely related to the economic growth of less developed countries (LDCs). Yet over 500 million women and girls globally still lack access to facilities and materials for adequate MHM. The silence, taboo, and stigma associated with menstruation often make it difficult to maintain good hygiene and limit women’s and girls’ potential in society. Restrictions during menstruation, from staying home from school or temple to having to sleep outside, and the lack of adequate washroom access in LDCs have affected women’s and girls’ likelihood to attend school. While this is first a sanitation matter, it is Continue reading The Economics of Menstrual Hygiene Management

2019 Economic Recap

A month to month recap of the US economy in 2019! January Federal Open Market Committee voted to hold interest rates steady February US economy grew by 2.4% in the fourth quarter. Trump plans to spend $6.7 billion spent for border security. March President Trump nominated campaign adviser Stephen Moore and  former GOP presidential candidate Herman Cain to the Federal Reserve’s board of governors. April Unemployment dropped from 3.8% to 3.6%. May US begins increasing tariffs on Chinese goods. US announces ending waivers for Iran and other oil supplying countries. June China and US come to an agreement and resume trade. July Boris Johnson was confirmed Continue reading 2019 Economic Recap

New Year, Old Tradition: the history and economics of Champagne

The holidays aren’t over yet! New Years Eve is just around the corner which means more consumer spending on… you guessed it, Champagne! For New Years celebrations alone more than 39.8 million bottles of Champagne will be purchased in the U.S. But why champagne? How has that become our nation’s and most of the worlds drink of choice for celebration? Champagne is a symbol of luxury in our world today and as we know, luxury goods as opposed to normal goods do not behave the same as far as consumption goes. Some Champagne may even be considered a Veblen good (a good Continue reading New Year, Old Tradition: the history and economics of Champagne

Gross Domestic Product, Explained

Gross Domestic Product (GDP) is the most commonly used tool to refer to the size of an economy. It is, in effect, assumed to indicate the well-being of any given country. Born in the manufacturing age, the tool’s failure to count for environmental costs, unpaid work, technology benefits, and the informal economy, have conceded economists’ widespread debate around the dethronement of GDP as an indicator of economic and social success. To understand how this tool fails to paint a comprehensive picture of a country’s well-being, an explanation of GDP as a concept is first necessary. GDP measures the aggregate value Continue reading Gross Domestic Product, Explained

Gender, Microcredit, and Climate Change

Financial markets often operate under gender biases that further conditions of credit scarcity among women in low- and middle-income countries. Highly gendered decision making in the governance of these banks diminishes the flow of capital into women’s projects and to women’s enterprises. This restricted access to credit services particularly hurts women-headed households. With women borrowers also being generally associated with lower portfolio-at-risk, lower write-offs, and lower credit-loss provisions, development organizations have, over the last decades, focused on extending credit to women to lift them and their families out of poverty. Microcredit refers to the practice of giving a small loan Continue reading Gender, Microcredit, and Climate Change