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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Will there be more than 11 million job openings related to Data Science in India by 2026?

This Career Outlook for Data Scientist article claims that analyst predict that there will be more than 11 million job openings by 2026 in the field of data science. Does this claim makes sense given ...
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Is the UK lorry driver shortage unrelated to Brexit? Do EU countries have equal or greater shortages?

UK Transport Secretary Grant Shapps claims that Brexit is not one of the causes of the UK lorry driver shortage which is causing shortages of food in supermarkets and shortages of fuel in petrol ...
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Does Norway spend $29,726 on child care per toddler annually?

I would like to verify the following chart (e.g. take Norway) in a New York Times article: (Note that multiple references in the article appear to define a toddler as being 0-2 years of age. They say ...
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Is the UK experiencing wage growth for people on low incomes?

In a TV interview with Andrew Marr on 3 Oct 2021, UK Prime Minister Boris Johnson claimed that UK wages were growing for people on low incomes. The interviewer (Marr) said that wasn't true - Johnson ...
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Did China shut down a port for one COVID-19 case and did this closure have a bigger impact than the blocking of the Suez canal?

Journalist Fabian Kretschmer claimed in a DW interview (at 1m56): For every case you have to shut down a factory, you have to shut down a port. In May, for example, they had to shut down the Yantian ...
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1answer
607 views

Is the local purchasing power in Cuba as low as shown in the following page?

This page shows a list of countries with some data from them, one of them being the "local purchasing power index". Cuba is in the last position of this with a 1.28 in purchasing power ...
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269 views

Is China's GDP data politically manipulated?

In 2010, a World Bank economist denied that China's GDP figures were politically manipulated: Is the data manipulated by the authorities to meet political objectives? My answer to it, at least ...
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715 views

Are these claims about the changes in the economy during Obama accurate?

An image was recently posted on politics about how the economy changed under Obama. While that question was not asking about the validity of the claim itself, instead focused on the validity of ...
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Did Milton Friedman say that nothing was so permanent as a temporary government program?

According to the Adam Smith institute (and numerous other pages): Milton Friedman used to say that nothing was so permanent as a temporary government programme. Did he actually say this? And if so, ...
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3answers
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Has the distribution of income and wealth in the USA got much more skewed towards the rich in the last 4 decades?

I recently asked this question about a statistic quoted by Kurt Andersen designed to illustrate the current wealth distribution in the USA in his book Evil Geniuses. It provoked a great deal of (...
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1answer
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Would the median household income in the USA be $140K and mean net worth $800K if wealth were evenly distributed

In his book (Evil Geniuses) about how the USA got where it currently is, Kurt Andersen speculates about how far wealth and income inequality has risen in the last few decades. He attempts to visualise ...
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1answer
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Has any US official said that the economy cannot be "fixed" if the pandemic is not "fixed"?

Context A week ago or so, Romania observed a conflict between the central authorities dealing with the pandemic (who want more restrictions) and the local authorities in a county (who want fewer ...
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Do companies who go public lower their R&D spending as a result?

Eric Ries talks in an interview with Ezra Klein about how there are studies that show that when a company goes public, it usually lowers their R&D spending afterwards. Is this is accurate ...
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Is an egalitarian inclination largely genetically determined?

A 2017 study titled A Genetic Basis of Economic Egalitarianism seems to have concluded that: We use Minnesota Twin Study data from 2008, collected from samples of monozygotic and dizygotic twin pairs ...
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1answer
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Does "The Great Reset" seek to abolish property rights? [closed]

The Great Reset is a plan by the World Economic Forum, imagined by a gentleman named Klaus Schwab. The plan is somewhat controversial, with some media outlets portraying it as an agenda to abolish ...
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1answer
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Is only 13% of the UK economy and only 8% of its businesses involved with european Union trade?

CAPX recently published a pro-Brexit opinion piece by John Longworth who headed a pro-Brexit pressure group. He argued that the UK were being held to ransom and were being treated like a "vassal ...
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Is solar power the cheapest form for utility companies to build?

A recent Popular Mechanics article claimed In a new report, the International Energy Agency (IEA) says solar is now the cheapest form of electricity for utility companies to build. That’s thanks to ...
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1answer
872 views

Did the wealth gap shrink under Trump (pre-pandemic)?

https://www.wsj.com/articles/the-wealth-gap-shrinks-11601420393 According to an op-ed piece by the Wall Street Journal Editorial Board, the Federal Reserve has published a report (https://www....
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1answer
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Are farm bankruptcies in the US "at highs not seen since the Great Depression"?

A June 29 Vox article quoted a Democratic party notable saying: “Trump’s failed trade war wreaked havoc on industries across the country. Farm bankruptcies are at highs not seen since the Great ...
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Was it ever cheaper to starve slaves and replace them than to provide them with food?

In a recent opinion piece in the Guardian, historian David Olusoga makes this shocking claim about slavery in the 17th Century British Empire: The system [Hans Sloane] witnessed and wrote about was ...
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Would a Value Added Tax (VAT) make it harder for companies to avoid paying taxes?

Andrew Yang claims the following in his platform for the 2020 US Democratic presidential primary race: A VAT makes it impossible for them to benefit from the American people, automation, and ...
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1answer
638 views

Do 37% of people in the UK believe that their job either makes no difference or makes the world worse?

According to David Graeber: They discovered that people in the UK, 37% agreed that if their job didn't exist either it would make no difference whatsoever or the world might be a slightly better ...
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1answer
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Did David Ricardo make £1M from the Battle of Waterloo?

Mark Skousen (2008): He was a speculator par excellence, allegedly making a million pounds sterling in 1 day following the Battle of Waterloo. Madsen Pirie: He went into a banking house and made a ...
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Did Marx use the word "capitalism"?

I'm finding contradictory accounts on this. First, we need to differentiate between the words "capital", "capitalist", and "capitalism". According to "Civilization ...
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1answer
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Did Federal Reserve Chairman Jerome Powell backtrack on raising interest rates from 2.5% to 3.25% in Jan 2 2019?

In this May 22 2020 article, NYU Stern Prof. Nouriel Roubini (BA Bocconi University 1982, PhD Harvard 1988) proclaimed: In other words, you’re saying that because of structural weaknesses in the ...
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1answer
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Did Ecuador's privatization of its healthcare system (under Moreno) substantially reduce the number of ICU beds?

As claimed on iacenter.org: What’s behind this crisis is that during the past three years, the neoliberal regime of President Lenín Moreno privatized the public health system and systematically ...
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668 views

Are/were US broadband internet service providers making 90%+ profit margins?

A 2012 blog article from Stop The Cap quotes the Wall Street Journal (without a link) as saying: Cable executives and analysts say that about 90% of the money cable operators charge for broadband ...
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1answer
649 views

Has the US unemployment rate reached 24.9%?

Before this seven-week stretch of 33.5 million initial jobless claims, there were already 7.1 million unemployed Americans as of March 13. When those figures are combined, it equals more than 40 ...
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1answer
545 views

Has Florida left 75% of its lettuce crop unharvested due to the coronavirus lockdowns?

Various sources claim that Florida's coronavirus lockdown has caused a serious breakdown in the food supply chain in the state. For example, this Politico article states the following: The scale ...
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1answer
710 views

Is Russia's fiscal break-even price for oil around half of Saudi Arabia's?

According to the philosopher John Gray (Why this crisis is a turning point in history): An increasing influence on the EU will come from Russia. In the struggle with the Saudis that triggered the ...
9
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1answer
569 views

Did China import 2 billion masks earlier this year to control Covid-19?

I'm wondering if there's not a typo in a recent paper that says that to control the COVID-19 outbreak, the Chinese government imported more than 2.0 billion facemasks between 24 Jan 2020 and 29 Feb ...
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Do restaurants have ugly sections? [closed]

Disclaimer: asked on Travel SE https://travel.stackexchange.com/q/154682/13746 but was closed. There's a theory that restaurants have a section for good looking people and a section for ugly people. ...
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Did two brothers steal credit card information worth millions and walked away scot-free because banks were embarrassed?

In this DEFCON talk at around 24:52 minute mark, the speaker (a Cambridge professor) tells a story of two brothers stealing millions of dollars using a weakness in credit card terminal technology, and ...
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2answers
637 views

Do library fines affect return rates?

I just got an email from the Free Library of Philadelphia announcing that they no longer charge fines for material returned past the due date. The announcement, reproduced on their blog contained the ...
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1answer
778 views

Did 20% of American millionaires inherit their riches?

A 2019 Investopedia article, 7 Millioinaire Myths, which has been widely copied makes the claim that "Millionaires Just Inherited Their Money" is a false preconception: According to Thomas J. ...
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751 views

Do 30 year old Millennials have lower average household income than Gen X did?

A 2017 Business Insider article claims that, in the UK: for the first time in more than 100 years the current generation of workers — millennials — are doing worse than the generation before them, ...
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1answer
5k views

Did (former) German Minister Manfred Lahnstein admit that Germany wanted the EMS in order to get a competitive edge over other European countries?

A 2017 article about the European Monetary System (EMS) in Foreign Policy relates this story: But there was always a suspicion that Germany was trying to get long-term trade advantages from linking ...
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0answers
917 views

Can a Cuban taxi driver make a doctor's monthly salary in just one hour?

A recent video by the Guardian, 'It's not fair': why Havana's taxi drviers vastly out-earn doctors looks at the difference between public sector workers and the privately employed in Cuba. The video ...
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5answers
894 views

Did the 2018 drought in Europe result in 2019 worldwide grain crop not meeting demand?

An essay on T-Online.de makes the following claim: Schon ein einziger Dürresommer in Europa 2018 führte dazu, dass die Getreideernte in diesem Jahr weltweit den Bedarf nicht mehr deckt (noch gibt ...
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1answer
840 views

Did Lyft and Uber pay drivers for just turning on the app and not picking up passengers?

This recent Mirror article, Couple explain exactly how they saved up £1.6million to retire at 41 claims: "For a period, we drove for Uber and Lyft in the San Francisco bay area. "For us, it ...
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3answers
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Does Turkey make the "structural steel frame" for the F-35 fighter?

In a tweet of Donald Trump (which was also carried without commentary in this regard by the Washington Post) he says So many people conveniently forget that Turkey is a big trading partner of the ...
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1answer
440 views

Did US Govt profit from the 2008 financial crash bailouts?

This site here says that basically, the government sold back some of the assets it bought to bail-out banks during the financial crisis of '08. I'm assuming it was basically the federal bank that ...
4
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1answer
257 views

Was the Dow Jones average more unstable after 2017 than in the preceding post-2008 years?

A Salon article says that Trump's trade war of choice against China has turned a steadily rising Dow Jones average, through 2017, into an unstable sawtooth pattern with massive single-day declines ...
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0answers
256 views

Is transportation highly pollution intensive, relative to production?

The text of this paper, Batra and Belladi (2012), claims: transportation is highly pollution intensive, specially relative to production They provide some more context: With international ...
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5answers
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Do 643,000 Americans go bankrupt every year due to medical bills?

I've been seeing a specific graphic circulating all over Instagram for the past few days. Here's Kim Kardashian posting it on her story. Two things seem odd about this graphic. The first is the 643,...
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2answers
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Does Denmark lose almost $700 million a year "carrying" Greenland? [closed]

In this precise moment of this video, (found on this this article) Donald Trump says about Greenland: It's hurting Denmark very badly because they are losing almost $700m a year carrying it, so ...
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2answers
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Does fossil fuels use since 1990 account for half of all the fossil fuels used in history?

This recent claim appeared on Twitter: If you are 29, you’ve been alive when half of all the fossil fuels ever burned throughout all of human history have been burned The source appears to be an ...
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1answer
426 views

Did China choose to finance the US after the 2008 crisis?

In today's edition of Le Monde there is an article about the increasing quantity of money in the world, and the problems or benefits that this might yield. In the introduction to the article the ...
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4answers
12k views

Is there a wealth gap in Boston where the median net worth of white households is $247,500 while the median net worth for black families was $8?

This quote—or some variant of it—has been floating around the news and social media world; this comes from Boston.com on July 26, 2019: According to a 2015 report by the Federal Reserve Bank of ...
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1answer
726 views

Has the consumption of electricity, steel, copper, gold, water, paper, etc… decreased or flatlined in the U.S. since around 2009?

The following claims are made in this Wired magazine article titled, “How the iPhone Helped Save the Planet” from June 29, 2019; bold emphasis is mine: “Total electricity use in the US, for example,...

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