Tipping in an Uber? It Might Just Happen

Have you ever felt like you should be tipping your driver, but don’t have any cash? Well, your problem could be solved in the near future (at least in NYC). The Independent Drivers Guild (the group that represents Uber drivers) presented the petition to add a tipping option for Uber customers and received over 11,000 signatures on it. The general argument is that the drivers are losing thousands of dollars because there is not a tipping option that is accessible electronically, only cash. Many passengers do not pay with cash so most drivers don’t receive tips. In contrast, NYC taxi Continue reading Tipping in an Uber? It Might Just Happen

President Obama Lifts Sanctions on Importing Certain Cuban Goods

Get your Cuban cigars, get your Cuban rum. President Obama just last week lifted the restriction of bringing in over $100 of Cuban cigars and rum to the United States. This is the continued effort of improving the relations of the two countries as they slowly rebound from decades of economic stagnancy. Obama has continued to lift the trade embargo to not only improve the two’s relationship but also stimulate the economy between the United States and Cuba. The value of a fluid relationship will increase quite a bit as United States citizens will increasingly do travel and business in Continue reading President Obama Lifts Sanctions on Importing Certain Cuban Goods

GDP is a Bad Indicator

GDP,  we hear about it all the time, and whatever it is makes nations cry when it (technically, real GDP growth) decreases and celebrate when it chugs along at 3%. But what the heck is it really indicating? And is it even good at its job?? In short, GDP is a measure accumulating all of a nation’s production to indicate the nation’s wealth, and, also in short, it’s not that accurate or helpful. See GDP was developed during the great depression to help take stock of what was actually going on in the American economy – so that people could Continue reading GDP is a Bad Indicator

Growth After a Recession

The role of government always seems to be the dominant topic of any political debate, especially when examining the US economy on a macro scale. What should the government do to mitigate market failures? How should they support consumers and producers alike? But the biggest question that separates the left from the right side is how big of a role should the government have in the American economy. It was just 8 years ago when a recession hit the US. This recession was named one of the worst global financial crises by former head of the Federal Reserve, Ben Bernanke. Continue reading Growth After a Recession