Economics

The Federal Reserve Board of Governors in Washington DC.

Doctors are most likely to marry in-field. Firefighters have a clear thing for nurses. And in this era of two-income households, the most common job for spouses still tends to be none at all.

Superstars in historical perspective.

Here's what anyone debating public financing for a sports stadium needs to know to combat half truths and exaggerations.

In a new paper from Economic Studies at Brookings, researchers find that federal taxpayers have footed a $3.2 billion bill to fund private sports stadiums since 2000 alone.

Politicians often argue the benefits of raising taxes to pay for sports stadiums, citing all the economic benefits that accrue from attracting major sports teams. But if there were significant economic benefits, wouldn’t private investors have an incentive to pay for the stadiums on their own? Why do we need tax revenues to fund them? This week, economist Lauren Heller joins us to talk about the economics of sport stadiums. Get a 20% discount on the mask not named in the episode by clicking below and using the coupon code wordsandnumbers. https://www.getunmask.com/?ref=8Dgb483n98NjG Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits https://russiandefpolicy.com/2021/12/27/russian-military-pay-still-lags/ https://www.cnas.org/publications/commentary/when-do-economic-sanctions-work-best https://www.wsj.com/articles/self-driving-trucks-start-to-propel-land-rush-near-major-cities-11646053200 Foolishness of the Week https://www.usatoday.com/story/travel/airline-news/2022/02/25/mask-mandate-travel-cdc-guidelines/6938530001/ Topic of the Week https://www.berry.edu/academics/fs/lheller Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smoke & Storieshttps://www.youtube.com/playlist?list=PLjILow4-ZJpBV-NnmSusZJ_vCuzKUJ4Ig Let Us Know What You Think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitterhttps://twitter.com/JamesRHarrigan

Billionaires have found one more way to fleece the public: sports stadiums. And if we don’t play ball, they’ll take our favorite teams away. This kind of billionaire hardball is why State Farm Stadium, home of this year's Super Bowl, was built in the first place.

Local governments routinely subsidize sports stadiums and arenas using the justification that hosting professional franchises produces economic development and

The country is pursuing aggressive immigration targets to bolster its labor pool.

Here's what anyone debating public financing for a sports stadium needs to know to combat half truths and exaggerations.

A multimillionaire businessman's staggering speeding fine can help explain Becker's rational model of crime and the role of deterrence in in shaping criminal decisions.

The nation's largest city is gearing up to implement congestion pricing.

Students in a new survey cite concerns about academic preparation, mental health and affordability. Many say college isn’t worth it.

The economist predicted that the Fed would need to push unemployment above 5 percent to contain price growth. Whoops.

Students in economics classrooms are increasingly digital natives, raised in a culture of engagement, expression and learning through online interacti…

Sign up for the Nebula/CuriosityStream bundle deal to get both streaming sites for just $14.79 a year: http://CuriosityStream.com/WendoverWatch Jet Lag: The ...

President Joe Biden announced from a White House roundtable on Thursday that entertainment giant Live Nation and ticketing behemoth Ticketmaster have pledged to give US consumers the ability to see the full price of tickets up front, minimizing the frequently frustrating experience of watching additional fees add up late in the checkout process when buying online.

There is no perfect metric for employment as it relates to the health of the economy as a whole. Context is necessary for determining whether changes in these metrics are good or bad. People think of having less work as a bad thing but, over time, the number of hours worked has decreased pretty consistently over time. You can work less hours today for a better standard of living than people in the prior two centuries. In the context of the last century and a half as a whole, this is a good thing.

In the book The Psychology of Money, Morgan Housel states, “The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. It is the highest dividend money pays.”

Journal of Happiness Studies - Using PISA 2018 data from nearly half a million 15-year-olds across 72 middle- and high-income countries, this study investigates the relationship between economic...

This paper considers top income taxation when (i) new ideas drive economic growth, (ii) the reward for successful innovation is a top income, and (iii) innovation cannot be perfectly targeted by a research subsidy—think about the business methods of Walmart, the creation of Uber, or the “idea” of Amazon. These conditions lead to a new force affecting the optimal top tax rate: by slowing the creation of new ideas that drive aggregate GDP, top income taxation reduces everyone’s income, not just income at the top. This force sharply constrains both revenue-maximizing and welfare-maximizing top tax rates.

Recent research concludes that the rise in consumption inequality mirrors, or even exceeds, the rise in income inequality. We revisit this finding, constructing improved measures of consumption, focusing on its well-measured components that are reported at a high and stable rate relative to national accounts. While overall income inequality rose over the past 5 decades, the rise in overall consumption inequality was small. The declining quality of income data likely contributes to these differences for the bottom of the distribution. Asset price changes likely account for some of the differences in recent years for the top of the distribution.

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The Canadian wildfire crisis is extending beyond national borders, impacting communities and imposing external costs on individuals far removed from the fire's path.