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Questions tagged [economics]

Economics is the analytical study of the costs and benefits of producing, distributing, and consuming goods and services. This tag should not be used for personal finance questions, nor for most questions about expensive items, e.g. exorbitantly priced houses, autos, jewelry. It can be used for current events, and in historical contexts.

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2answers
174 views

Did Mussolini say the state controlled three-fourths of the Italian economy?

Three-fourths of the Italian economy, industrial and agricultural, is in the hands of the state. And if I dare to introduce to Italy state capitalism or state socialism, which is the reverse side of ...
1
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0answers
578 views

Is 95% of what you read in the financial press “either wrong or irrelevant?” [closed]

From a Cato Institute article by Steve Hanke1 (emphasis added): Most press reports about Zimbabwe’s fantastic hyperinflation are off the mark – way off the mark. Even our most trusted news sources ...
8
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1answer
731 views

Were 51,000 Pennsylvania jobs lost under the Obama administration?

The GOP tweeted this: ...During Obama/Biden Admin, the Keystone State LOST 51,000 jobs. Under the leadership of [Trump], the Keystone State has ADDED 5,000 manufacturing jobs & its ...
13
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1answer
794 views

Does the UK provide 50% of EU's waters? And does this imply anything about fishing rights?

Leading Brexiteer Owen Paterson wrote in an article in the Telegraph about fisheries: At present, the UK provides 50 per cent of the EU’s waters but receives only a 25 per cent share of the Total ...
8
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1answer
337 views

Is there a better-supported explanation than economic hegemony, why “70% of firms targeted for anti-bribery by the DOJ are overseas”?

This BBC article quotes GE's former lawyer as saying that: Pierre Laporte, a former GE lawyer who now works as Pierucci's partner, notes that 70% of firms targeted for US anti-bribery action are ...
10
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0answers
240 views

Did the IMF admit that capital controls have been successful in Malaysia?

A DW article says Malaysia stood out as a country that refused IMF assistance and advice. Instead of further opening its economy, Malaysia imposed capital controls, in an effort to eliminate ...
22
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1answer
900 views

Was breaking apart coins for change ever a common custom?

Discussion at many online sites asserts that it was a common custom (e.g., in medieval or Roman times) to pay for a purchase with a coin and have the coin broken apart, with part of it returned as ...
132
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1answer
28k views

Did Amazon pay $0 in taxes last year?

Background I saw this article saying that Amazon paid $0 in corporate income tax last year. Is this true or just phrased to sound like they are getting away with paying nothing? Here's the article: ...
10
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1answer
1k views

Does skip-lagging/hidden city travel make flights more expensive?

From a recent MarketWatch article, This airline sued a passenger for skipping his flight — why we should all take note, George Hobica claims that “Hidden city cheaters make airfares more expensive ...
81
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4answers
19k views

As of February 2019, were US wages rising at the “fastest pace in decades”?

The President of the USA, Donald Trump, told during his "State of the Union address" speech on 5th February 2019, that [...] wages in America are rising at the fastest pace in decades Source: at ...
3
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0answers
244 views

Does the UK subsidise fossil fuels more than other European countries? [closed]

According to a recent report in the Guardian the UK has much higher subsidies on fossil fuels than other European countries (presumably, it is the Guardian, this is a very bad thing). They report: ...
17
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1answer
823 views

Is the global inequality as measured by the Gini index rising or falling?

Olle Hammar et al write in Global Earnings Inequality, 1970–2015: Our main finding is that global earnings inequality has declined, primarily during the 2000s, when the global ...
52
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3answers
11k views

Did only one banker in the US go to prison for the Financial Crisis of 2007-08?

In the movies The Big Short (2015) and Capitalism, a love story (2009), it is claimed that only a single banker, Kareem Serageldin, went to prison for the Financial crisis of 2007–2008, for which many ...
33
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1answer
6k views

Has the FTSE lost more value in 12 months than the UK has paid into the EU during the 45 years since they joined?

Regarding the claim “The FTSE has lost more value in 12 months than the UK has paid into the EU during the 45 years since we joined.” Is this claim accurate and furthermore what does this mean? Is ...
5
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2answers
402 views

Do Low-skill workers earn one cent in extra income for every 19 cents the government spends on walling off Mexico

From Quartz - The ROI on border walls is terrible, the following claim was made:: Low-skill workers earn one cent in extra income for every 19 cents the government spends on walling off Mexico It ...
18
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0answers
1k views

Was it illegal in Venezuela for doctors to list starvation as cause of death for children?

In this video Jordan Peterson says the following: Do you know that it is now illegal for physicians to list starvation as the cause of death for a Venezuelan child in a hospital. That's how ...
11
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2answers
614 views

Is the equity ratio of US banks around 3%?

Did John H. Cochrane, a professor of economics at Chicago, wrote: In order to make $100 of loans, a typical bank borrows $97—from depositors, from money-market funds, from other banks, or from ...
15
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1answer
934 views

Were there fewer first-home buyers in Australia in 2017 than seventh-home buyers?

An ABC news item today quoted a claim about the Australian property market without any indication that they verified it: [Queensland] State Housing Minister Mick De Brenni said that last year more ...
7
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2answers
581 views

Will smart meters cost each UK household 420 GBP?

The roll out of smart meters is well on its way in the UK. In this article it is claimed that smart meters will cost each household 420 pounds. Apparently, this money will be taken from each customers ...
7
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0answers
179 views

Were official poverty rates in India distorted by changes to dietary needs?

In this January 2006 episode of BBC Hard Talk, then Director of Action Aid India, Babu Mathew, was asked whether poverty amelioration is linked to economic growth in light of the fact that in 1978 ...
8
votes
2answers
769 views

Is the median income for African Americans at an all time high?

President Trump, in a press conference on 9 October 2018, said the following to reporters. You know, [Kayne West] loves what we're doing for African-American jobs, for so many different things. ...
2
votes
2answers
468 views

Is 49% of Indonesia's wealth owned by 1% of its population?

Prabowo Subianto, a leading opposition leader in Indonesia, claims that Indonesian's Gini coefficient is 49%, and that that means 1% of Indonesian own 49% of the wealth. The text said that Gini ...
11
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2answers
2k views

Do rich Americans pay a lower portion of their income in federal taxes than the middle class?

Not quite the same as this related question but similar. According to Wikipedia, the origin of the "Buffett Rule" oft-quoted by former-President Obama is that: rich people, like himself, could pay ...
2
votes
0answers
249 views

Do women in all-women shops earn less then men in all-men shops? [closed]

Many women & men raise issues of equal pay for equal work, but a recent analysis of Uber Drivers showed that women earned less because of working less or driving slowly; Uber Payment system did ...
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2answers
574 views

Do women earn less than men for the same exact work? [duplicate]

Previous questions on the site such as this one and this one, as well as the answers and their sources address the gender pay gap on a broad scale, comparing the careers of all men to the careers of ...
3
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2answers
1k views

Is Moscow metro the only profitable metro in the world?

Omsk Oblast first vice-governor Sineugin when explaining why they stopped building metro in Omsk, has claimed that Moscow metro is the only profitable in the world: The first deputy governor ...
39
votes
1answer
13k views

Did Donald Trump get America's GDP growth to 4.2%?

In a recent tweet, Donald Trump wrote: “President Trump would need a magic wand to get to 4% GDP,” stated President Obama. I guess I have a magic wand, 4.2%, and we will do MUCH better than this! ...
47
votes
1answer
8k views

Is the presidential family net worth growth/loss portrayed in this infographic true?

Is the presidential family net worth growth/loss portrayed in this infographic true? (I am not asking about the other assertions in this infographic) I'm skeptical of the massive gains both the ...
6
votes
2answers
907 views

Do pharmaceutical companies contribute to anti-drug campaigns?

According to an article by The Guardian, a pharmaceutical company called Insys lobbied against marijuana legalization in Arizona; and then was approved for a cannabis-derived pharmaceutical five ...
5
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0answers
190 views

Is lack of adequate funding a substantial factor determining the poor accuracy of US state-level polls?

One of the conclusions of an AAPOR paper on the 2016 US polls contains this detail: As this report documents, the national polls in 2016 were quite accurate, while polls in key battleground states ...
12
votes
1answer
2k views

Does Great Britain have the lowest state pensions (relative to average wages) in the OECD?

I recently came across this political post on Facebook It is arguing that Great Britain is the 'worst' in the developed world, and I'm sceptical of a few assertions made here. UK pensions don't seem ...
1
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1answer
444 views

Quasi-consensus among economists that neither trade deficits nor surpluses are necessarily 'good' or 'bad' for an economy?

The BBC has a story that says: Economists generally agree that neither trade deficits nor surpluses are necessarily 'good' or 'bad' for an economy. Is there some way to verify there's a level of ...
7
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1answer
731 views

US trade deficit and the iPhone

CNBC has an article arguing that the way the US trade deficit with China is quite misleading, particularly as to the ultimate source of the deficit, using the iPhone as an example: Some $70 billion ...
13
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2answers
5k views

Do one in three workers in Romania work for minimum wage?

I've read on a website that I don't know much about that (in 2017) Romania is a country viewed as an economic miracle in the European Union. Its unemployment hovers around five per cent, its ...
3
votes
1answer
761 views

Did 20th-century Marxists acknowledge that the central social predictions of Marxism were wrong?

In this video, starting at 5:36, Stephen Hicks claims that there are three central "social science" Marxist predictions, which I would sum up as follows: Over time, in any capitalist society, The ...
43
votes
1answer
8k views

Is “Earth Overshoot Day” a useful or reliable metric of humanity's effect on the world?

Apparently, we are rapidly approaching Earth overshoot day and that day gets earlier every year. The Guardian explains: Humanity is devouring our planet’s resources in increasingly destructive ...
15
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0answers
319 views

Was the UK's drive to acquire civilian metals to use in WW2 necessary for the war effort?

This question was asked here recently: Were World War II scrap drives in the United States truly necessary for the procurement of raw materials? And it has produced some very solid analysis and ...
10
votes
1answer
939 views

Is Noam Chomsky right in saying the economic benefits of British colonialism to Britain were nonexistent?

In an interview about imperialism Chomsky claims there were no overall benefits of colonialism to the British population, and asserts there are studies confirming this. But, going back to the ...
2
votes
1answer
351 views

Have unions destroyed the US automobile industry? [closed]

Elon Musk claims that unions have destroyed the US automobile industry: http://labor411.org/411-blog/2056-elon-musk-blasts-labor-unions-they-destroyed-once-great-us-auto-industry But he is not alone,...
5
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0answers
432 views

Are African-Americans more impatient than whites or Hispanics?

A 2017 paper written by five economists (Andreoni et al.) finds that Time preferences have been correlated with a range of life outcomes, yet little is known about their early development. We ...
4
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0answers
117 views

Does breastfeeding affect patience, altruism, and risk taking (even as an adult)

A 2016 paper from DIW Berlin unambigously states: In a sample of preschool children we find that longer breastfeeding duration is associated with higher levels of patience and altruism as well ...
2
votes
0answers
276 views

Even the healthiest of elders show profoundly compromised decision making?

That's the indomitable conclusion quoted from the summary of a 2013 PNAS paper. In a bit more detail: We identified several important age-related patterns in decision making under uncertainty: ...
7
votes
1answer
516 views

Almost all the US jobs created between 2005-2015 “are temporary” (alt-work)

A piece of research from a pair of well-known economists, Lawrence Katz and Alan Krueger as summarized in Quartz a couple of years ago: “We find that 94% of net job growth in the past decade was ...
5
votes
2answers
412 views

Were the vast majority of lost manufacturing jobs since 2000 lost due to automation?

There has been a lot of discussion here in the US about manufacturing and about bringing back jobs from overseas. While interviewing US presidential candidate Andrew Yang on the Waking Up podcast, ...
6
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0answers
401 views

Are roughly 90% of H-1B visa workers in the IT sector paid below-market rates?

In an article penned last year by (present and former) IEEE-USA presidents, we read that (my experpts and emphsis): In 2014 (the last year we have good data), Infosys, Cognizant, Wipro, and Tata ...
99
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2answers
18k views

In the American west—the world of cowboys and cowhands—was ammunition traded for alcoholic “shots” of a drink?

CLARIFICATION: Just so it’s clear, this question is specifically about the economic claims made by the meme presented below. It is a NOT question concerning the origins and etymology of the word “shot”...
8
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2answers
769 views

Do US Pharma firms have an incentive to develop useless cancer drugs?

An economic analysis of cancer drug approvals in the USA was recently published. Drug regulators’ acceptance of any statistically significant improvement shown in a single randomized trial and ...
5
votes
1answer
704 views

Are the locations of Roman roads still linked to higher prosperity today?

The Romans built a large number of roads across much of Europe. Their primary function was to aid military movement and communication. But they became useful routes for trade and were, therefore, ...
10
votes
1answer
681 views

Do cars drop 7% in value every month?

In their email communication car-buying organization wijkopenautos.nl (wkda.de) claims cars drop 7% in value each month. Their exact claim is: Let op: een auto verliest iedere maand ongeveer 7% aan ...
8
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2answers
657 views

Does corporate lobbying provide benefits to those funding it?

This 2018 Bloomberg article claims that "Lobbying Doesn't Help Companies or Their Shareholders". The numbers instead indicate that lobbying hurts the underlying capital values of the corporations. ...