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Hat Tip: Astrid Arca
We're Economists. We know things about stuff.
"Officials from the North Central Regional Airport along with coordination from Clarksburg Travel Service arranged an afternoon of free flights. A Boeing 757 from Newark, New Jersey landed in Bridgeport to take passengers for a 30-minute flight around North Central West Virginia. The airport is trying reach a goal of 10,000 passengers for the year so it can be eligible for an airport improvement program grant."
These are big moments in Congressional history; the Jeffords effect has received a fair amount of attention in the journal world.The senator, who has represented Pennsylvania in the upper chamber since 1980, said he was "anxious" to stay in the Senate -- and he did not want to face a Republican primary in order to keep his seat next year.
"I was unwilling to subject my 29-year record in the U.S. Senate to the Pennsylvania Republican primary electorate," he said. "But I am pleased to run in the primary on the Democratic ticket and am ready, willing and anxious to take on all comers in the general election."
Polls suggested Specter would face a stiff primary challenge from Rep. Pat Toomey, who falls to his right on the political spectrum. Toomey nearly defeated Specter in the Pennsylvania GOP Senate primary in 2004.
I have often told the young athletes I work with that there are two pains they must choose between -- the pain of hard work, or the pain of regret. I argue that the pain of regret will sting for much longer.
For someone to steal from you, you must have property rights over that object that entitles you the right to exclusive use. The problem with the “inflation is theft” argument is that it requires a claim of property rights to a pecuniary value of an object. However, greenbacks only represent a claim on U.S. goods, services, and assets. They do not represent a claim for you to be able to receive two candy bars or an hour of parking for every dollar you posses.
Free marketer’s do not usually make this error in other domains. If someone were to claim a right to be paid as much or more for their house as what they paid for it, they would be correctly reminded that their purchase only granted them rights to the house and property, not to any pecuniary value of the home. In my view, the "inflation is theft" crowd make this error.
Agent: How do you feel about earthquake coverage?Superb, just superb. I almost never discuss any economics or political economy with her. Here I was hoping to get at some crowd wisdom while thinking about availability heuristics. My wife, as usual, provided the more relevant analysis.
Me: Have we had earthquakes in Bloomington before?
Agent: We have had earthquakes in Bloomington in the past, but they have all been very minor and haven't caused much, if any, damage.
Me: What do most Bloomington residents do?
Agent: I am rarely able to sell this coverage.
My Wife: Then if a earthquake is so big that it actually damages our house, then it will damage so many uninsured houses that the government will bail us out.
"If you're emitting half the carbon dioxide that our neighbor is, that means one of two things: Either your neighbor can drive twice as much, or you're having a significant positive impact on the environment."
Game theory as it currently exists is a normative theory. It characterizes optimal behavior when selfishness and rationality are common knowledge (p. 32).
Some of the university’s seniors are offering their tickets to his May 13 commencement speech on Craigslist for $60 to $100 apiece, and others are auctioning their tickets on eBay, according to CNN. Seniors can pick up as many as six free tickets to the event, scheduled for the university’s Sun Devil Stadium, which has a game-day capacity of 71,706. But not all seniors plan to attend — in part because of the inconvenience caused by the president’s presence. “You have to get through security, then you have to hear him speak, and then you have to get out,” said a student who told CNN he’s not going.True to CHE form, the comments start to turn batshit crazy by #3.
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The university announced on a graduation Web page that no student could take “any action to sell, trade, or barter the ticket, or to assign or transfer the ticket for any consideration whatsoever.”
That is what it is like almost every day for those of us that study economics. Almost daily we watch policy makers claim they want to bring the poor out of poverty or increase the standard of living, only to have them then turn around and propose policy that does precisely the opposite. Why? Because some crazy activist with irrational, knee-jerk, and oftentimes elitist, positions on market policy want them.Meanwhile, supporters of the bill, which the Senate will consider later this year, are demanding that the FDA ban e-cigarettes, a potentially life-saving alternative for smokers, as unauthorized drug delivery devices. Last month Sen. Frank Lautenberg (D-N.J.), who brags that he is "one of the Senate's leaders in protecting Americans from the dangers of smoking," urged the FDA to take e-cigarettes off the market "until they are proven safe." The next day, the American Cancer Society, the American Heart Association, the American Lung Association, and the Campaign for Tobacco-Free Kids applauded Lautenberg's position.
Michael Siegel, a professor at the Boston University School of Public Health, did not. "This is about as idiotic and irrational an approach as I have ever seen in my 22 years in tobacco control and public health," he wrote on his blog. "A public policy maker who touts himself as being a champion of the public's health as well as some of the leading national health advocacy organizations are demanding that we ban what is clearly a much safer cigarette than those on the market, but that we allow, protect, approve, and institutionalize the really toxic ones."
Napier used this rooster to find out which of his servants had been stealing from his home. He would shut the suspects one at a time in a room with the bird, telling them to stroke it. The rooster would then tell Napier which of them was guilty. Actually, what would happen is that he would secretly coat the rooster with soot. Servants who were innocent would have no qualms about stroking it but the guilty one would only pretend he had, and when Napier examined their hands, the one with the clean hands was guilty.[5]
Known as Avtovaz for short, it is one of the least efficient automobile factories anywhere in the world — each worker produces, on average, eight cars a year, compared with 36 cars a year at General Motors’ assembly line in Bowling Green, Ky., for example.This factory persists because of subsidization and bailouts from the Russian government. The details of the bailout are less invasive (no executive firings or requests for a new business plans), but I see that as political hubris that unintentionally serving the role of deterring more firms from finding government bailouts attractive.
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The factory, a monument to Soviet gigantism in industrial design, is a panoramic sprawl of pipes and smokestacks on a bank of the Volga River, 460 miles southeast of Moscow. It employs 104,000 assembly line workers, many of whom still toil with hand-held wrenches.
Can a rational choice modeling framework help broaden our understanding of anorexia nervosa? This question is interesting because anorexia nervosa is a serious health concern, and because of the following issue: could a rational choice approach shed useful light on a condition which appears to involve "choosing" to be ill? We present a model of weight choice and dieting applicable to anorexia nervosa, and the sometimes-associated purging behavior. We also present empirical evidence about factors possibly contributing to anorexia nervosa. We offer this analysis as a consciousness-raising way of thinking about the condition.
This would be like saying Walmart created its own currency when it started creating gift cards. An interesting part about this system though is while you can purchase almost everything at Walmart, people would be protesting if this company started paying their employees with gift cards....what happens though when participating members want to go on vacation in an area beyond Ithaca's borders?...What if they wanted to purchase a car that is not created in Ithaca and therefore does not accept Ithaca Hours as trading power? What if a neighboring community has higher quality products or lower prices on equal goods?Indeed,Claudia has pointed out that coal mines in West Virginia often provided their own "company stores" as part of a package of benefits to their employees, and that company store "price gouging" was a myth. There is no functional difference between company stores, gift cards, and local currency.