Economy

The Economics Behind Price Gouging

With all the hurricanes lately, I’ve seen plenty of people get upset about price gouging in areas where people are evacuating and/or areas where people are hunkering down. Based on what I’ve seen, most people find the practice immoral, especially when there’s a crisis. It seems to be that people don’t quite understand why price gouging is actually the moral thing to do in times of a crisis. Hopefully, my personal experience in Oregon with the wildfires will shed some light on this.

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Why the University of Washington’s Study on Seattle’s Minimum Wage Increase is Not Flawed

Late last month, a team of economists at the University of Washington released their findings on the past couple minimum wage increases in Seattle. Unsurprisingly, this was covered by just about every news outlet. To my surprise, many are divided over what the Seattle economists found. Economists at UC Berkeley did their own study and had different findings. This led to a lot of people, including economists, calling the University of Washington’s study flawed. The only problem is that their study isn’t as flawed as critics claim.

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Sarah Silverman Doesn’t Understand How Credit Unions Work

It often concerns me when people don’t seem to understand something they should have learned about in high school such as writing a check, balancing a personal budget, and major differences between a bank and a credit union. Sarah Silverman explains why she left her bank for a credit union in a video for NowThis. Just when you thought you couldn’t politicize much more in America, the credit union has now fallen victim to it. There’s a lot of benefits to a credit union. I even advocate switching to them! There’s just one big problem: I don’t think Sarah Silverman or NowThis understand credit unions very well. Before we get too far ahead of ourselves, here’s the video so you can see what I’m talking about.

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President Obama’s Economy: The Past Eight Years

Now that President Barack Obama is just a couple of weeks away from transferring power to President-elect Donald Trump, news reports are coming out in praise for who will soon be a former president. Recently, I published an article that shows what the employment situation really looks like when we look outside of the confines of the unemployment rate. Let’s apply this concept to the entire tenure of Barack Obama and see exactly how things look comprehensively compared to when he took office.

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The Recent Jobs Report is a Distraction: How to Accurately Judge Our Employment Situation

The Bureau of Labor Statistics (BLS) released a new jobs report on Friday, reporting an addition of 178,000 jobs and a nice, low 4.6 percent unemployment rate. FiveThirtyEight’s Ben Casselman, their chief economics writer, said that Trump and Clinton could both spin this jobs report, but he also wrote that “Millions of Americans abandoned the labor force during the recession and are now returning at a trickle, if that.” But isn’t it a good thing that the unemployment rate is low and jobs were added? Well, yes, but also no.

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Oregon Measure 97: The Harsh Reality

The State of Oregon is having a bit of wild dream when it comes to a state measure that was intended to raise taxes by 2.5 percent on big corporations. The ‘Yes on Measure 97’ campaign even has over 70 experts and academics to back up the measure. But is it really all it’s cracked up to be? To be honest, I don’t think so. 

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Something to Look for if the Brexit Takes Place

Today is the day that Britain votes whether or not they will stay in the European Union (EU). There are plenty of arguments for and against what is being called the Brexit. Personally, I’m in favor of the Brexit for a few reasons. However, there are legitimate reasons for the United Kingdom (UK) to want out of the EU. From the restriction of individualized trade agreements outside of the EU to personal feelings, the UK has a legitimate reason to want out.

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