Sound Economics

Here’s a throwback Thursday post for Valentine’s Day. <3   For more podcasts, click here!

Snow is really really expensive. In 2015 the American Association of State Highway and Transportation Officials investigated the cost of snow removal in 23 states, and found that the overall cost was $1,131,651,978 (AASHTO). Simply put, snow is a financial burden on cities. But this is not the primary concern of students when it comes to cold weather. The only question that matters to a student, no matter how old, is whether or not there will be a snow day. The consensus among the student body here at UPS is that snow days are amazing, and that a break from Continue reading Why You Should Be Less Excited About Snow Days→

The Green New Deal has been the talk of the town this last week, with strong opinions from both democrats and republicans. The majority of democrats are in support of the Green New Deal, as it asks for a fight against climate change and social inequity, two priorities that democrats have. Meanwhile, republicans are in strong opposition as this is an extremely radical plan with little plan for an actual execution. Republicans also do not believe climate change is a priority and think the government should be spending money on other things. These opinions seem to be widely broadcasted at Continue reading What’s the Deal with the Green New Deal?→

Small businesses[1] are frequently said to be the “backbone” of the American economy. The prevailing sentiment concerning regulation on businesses of all sizes is that less is more. Minimum wages, corporate taxes, benefit guarantees, and other worker protections are anathemas to growth and should thus be minimized. This logic gets extended to the assertion that a strong social safety net will harm business and entrepreneurship because of the higher taxes that would inevitably fund such social programs. It makes sense, right? The less businesses spend on employees and taxes, the more they can focus on improving and growing. Regardless of Continue reading A Bottom-Up Perspective on Entrepreneurship→

It’s no secret that the price of drugs in the United States is a touchy subject; wanting affordable drugs now versus the cost of developing presents a difficult dilemma. A lower price for drugs as soon as they’re developed could save lives, but money for expensive R&D also has to come from somewhere. Every year investors spend five times as much as government does on medical research (drugcostfacts.org, 2015), and they aren’t doing it out of the bottom of their heart. The assumption is that investors will only allocate capital to a biotech/pharmaceutical company if they believe they will be Continue reading The Price of Innovation: Medical Drugs→