Economics

All essays that are primarily about economics

On Vacation

Cheap Motels and a Hot Plate is going on vacation for awhile. I’ve run out of things to say. Thanks for reading.… | more |

Whoopee! We’re All Gonna Die (Working)

Whoopee! We’re All Gonna Die (Working)

 We were in a Wal-Mart in Richfield, Utah. The greeters at the door were an elderly man and woman. Both were in wheelchairs. At a grocery store in Colorado, an old man bagging groceries was so bent over that he could barely look up. In our travels, we have begun to notice a new phenomenon:… | more |

It’s Still Slavery by Another Name

It’s Still Slavery by Another Name

 Right-wingers like Fox’s Bill O’Reilly are fond of saying that whites don’t have a monopoly on racism. Some black people hate whites, so they are racist too. Whites must stop being racist, but so must blacks. The implication of this way of thinking is that racism evens out in the end. It is seen as… | more |

If I Were a Rich Man

If I Were a Rich Man

When the great populist Huey Long was campaigning for governor of Louisiana, he wrote some clever slogans and songs. One song began: “Every man a king, for you can be a millionaire.” Back then, in the late 1920s and early 1930s, the word “millionaire” meant that a person was rich beyond the dreams of mere… | more |

Occupy Wall Street and the Celebrity Economists

Occupy Wall Street and the Celebrity Economists

The Occupy Wall Street movement has transfixed the nation. In just a few weeks, it has spread from Manhattan to hundreds of towns and cities, and it has now taken root in other countries. It has focused the widespread anger that we feel toward a tiny group of extraordinarily rich individuals (the 1%) who have… | more |

A Good Job Is Hard to Find

A Good Job Is Hard to Find

In 2010, about 139 million people, on average, were employed in the United States.  What kind of work did they do? Here is an interesting table constructed by the Bureau of Labor Statistics: These occupations comprise one of  every five jobs in the nation. Notice that the only one with a decent average wage is nursing.… | more |

The Emperor Has No Clothes, But Still He Rules: Three Critiques of Neoclassical Economics

The Emperor Has No Clothes, But Still He Rules: Three Critiques of Neoclassical Economics

Moshe Adler, Economics for the Rest of Us: Debunking the Science that Makes Life Dismal (New York: The New Press, 2009), 224 pages, $24.95, hardcover; David Orrell, Economyths: Ten Ways That Economics Get It Wrong (Mississauga, Ontario: John Wiley & Sons Canada, Ltd., 2010), 288 pages, $27.95, hardcover, $12.99, paperback (published London: Icon Books, 2010);… | more |

Mother Nature, Make Me Rich

Mother Nature, Make Me Rich

NBC recently aired a show called America’s Next Great Restaurant. Contestants, each of whom hoped to open a restaurant chain, were put through a series of tests to see whose idea had the best chance for success. A panel of judges eliminated one person at the end of each program, until the last one standing… | more |

These Homes Were Made (and Paid for) by You and Me

These Homes Were Made (and Paid for) by You and Me

 When we lived in Pittsburgh in the 1990s, my mother came to visit for a few days.  She always wanted to see the Henry Clay Frick mansion, so we drove to Wilkinsburg, just outside the Pittsburgh city limits, to see it.  Frick was the chief lieutenant of Andrew Carnegie and the architect of Carnegie Steel’s efforts… | more |

Elko, Nevada: Ranches, Mines, and Mountains

Elko, Nevada: Ranches, Mines, and Mountains

  We first heard about Elko, Nevada from a couple we met on a trail in Zion National Park. While trading travel stories,  they said that the Ruby Mountains outside Elko were spectacular. We were at the beginning of a long road trip and had no particular itinerary, so we kept Elko and the Rubies in… | more |