The Economist

unsatisfied. The success of Pinochet’s regime owes a great deal to the “Chicago boys” who were economist who were brought in to help Pinochet restore a broken economy in a very utilitarian manner. By eliminating parties that can be detrimental to the efficiency of a government Pinochet had the ability to effectively pass the legislation he deemed necessary to create a better economy on the basis of what the Economist instructed him to do, even if there were to be short term consequences. The…

independence. Mr. Smith had the idea that individuals would always do what is best for themselves, and because of this, the cumulative result would be what is best for the whole nation. This thought reminded me of the second rule from our text: "Economists assume that individuals make choices that seek to maximize the value of some objective, and that they define their objectives in terms of their…

Many Americans or almost the majority get addicted to sugary beverages. Have you ever asked yourself what consequences of those big addiction on sugary drink? The typical consequence of consumption on sugary beverages is obesity, diabetes, heart failure. Technically the people are killing themselves in a slowly form, the Americans must be responsible with the quantity of sugar they consume. So, what can be a solution for this issue? A tax on sugary beverages would be perfect because it can…

were to increase, it would also severely hurt low-skilled workers (“Four Reasons”). Studies found that adding less than two dollars to the wage increased the unemployment for low-skilled workers by around 1.6 percent (“Four Reasons”). According to economist Gary Becker, “A rise in the minimum wage increases the demand for workers with greater skills because it reduces competition from low-skilled workers” (qtd. in Wilson). Many low-skilled workers left unemployed will continue to fall lower…

As banking system showed that we need greater regulation, the same verdict can be given to other important economic sectors. But here the problem of right regulation is again a great problem. The old word that economist like to say that it is not enough to have the desire to do well but having the knowledge of doing this seems a heavy burden. As economy is still staggering over the years, there are still policy problems on how to contact it. We all knew from our basic study of macroeconomics…

Emile Durkheim studied suicide and the factors as to why one would commit suicide. Nikolas Antonakakis and Alan Collins are Eurppean Economists who study the economic crisis in Greece. Nikolas Antonakakis has a PhD in economics. Christos C. Frangos, Constantinos C. Fragkos, and Alina Hyz are business administrations, department of medicine, and department of accounting. Marina Economou, Michael Madianos, Lily Evangelia Peppou, Christos Theleritis, Athanasios Patelakis, and Costas Stefanis work…

class allows me to actively engage in current affairs. Learning about exchange rates and trade has fostered my understanding of and interest in cross-border flows and interactions between countries, which I hope to extend at university. Reading The Economist and the…

and society should be accommodated in an equitable balance. This contrasts with the often-implicit assumption in business that the goals of the firm or its shareholders are supreme. Similarly, it contrasts with economists' stress on efficiency as a supreme goal; although some labor economists (such as Richard B. Freeman and James L. Medoff, (1984) authors of What Do Unions Do?) have updated and expanded upon earlier arguments for the efficiency of collective voice mechanisms (collective…

(Is). And they aren’t entirely wrong: with state schools costing on average about $9000 a year and private institutions costing about $31,000 a year, the cost of college seems daunting (“FAQ’s”). But the key word here is “seems.” According to MIT economist David Autor, the cost of college is actually negative $500,000 (Leonhardt). Yes, that’s right: over the long run, college is cheaper than free. However, the cost of going to college in the 1980’s was only about negative $250,000 (Leonhardt);…

insurance ran a deficit and had to resort to the trust funds to cover the portion that was not covered by payroll taxes. When Social Security runs a deficit, it means that payroll taxes collected are not enough to pay beneficiaries. According to economists the problem is only going to get worse, if no reformation is made the consequences are permanent deficits. The Disability Insurance Trust Fund is expected to go insolvent in 2016, and the Social Security Trust Fund is expected to go…