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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Is the insurance cost for going through the Red Sea the determining factor why ships avoid it, and are insurance companies making a big profit there?

It's been claimed in a popular video on the FSK bridge as some side comments (towards the end, last 3 minutes or so) that The insurance companies are making money "hand over fist" in ...
the gods from engineering's user avatar
5 votes
2 answers
966 views

Do the poorest 20% of U.S. households have higher average consumption than the averages for most nations of the OECD and Europe?

In 2019, Just Facts, a conservative/libertarian-leaning research organisation, published The Poorest 20% of Americans Are Richer on Average Than Most European Nations. The study claims that: OECD ...
Horrendous Hexapod's user avatar
1 vote
1 answer
746 views

Did the INR/USD exchange rate experience a spike around Oct-Nov 2023?

If we look at Google search's graph of INR/USD exchange rate, there is this big spike somewhere around October or November 2023. Did this happen for real, or does Google have buggy data?
whoisit's user avatar
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10 votes
0 answers
2k views

Was whaling the biggest industry in 1903?

In a podcast with Joe Rogan, Jimmy Carr made the claim that: Whaling was the biggest industry in the world in 1903. However, some people in the comment section dispute this, claiming that Carr meant ...
Reubend's user avatar
  • 1,293
2 votes
1 answer
529 views

Does an Arrow 3 cost more than 10 times less than its closest US equivalent (SM-3 Block IIA)?

According to the Missile Defense Advocacy Alliance, an Arrow 3 costs $2,200,000, while a Standard Missile 3 (SM-3) Block IIA costs $36,387,000. Both of these are 21 inch (fit in that tube diameter) ...
the gods from engineering's user avatar
35 votes
1 answer
11k views

Does Hamas divert humanitarian aid donations towards the military budget?

In order to better understand how Hamas operates, I was trying to look up how they manage their budget. It seems there's suspicion that some of the international humanitarian aid goes towards the ...
Angriffsreiher's user avatar
2 votes
0 answers
411 views

In what way do developed countries drain trillions of dollars from developing countries? [closed]

On the advice of the monitors, I have reposted this question on Economics SE. According to the Guardian, rich Western countries drain large amounts of money from poor countries, much more than they ...
Riemann's user avatar
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16 votes
1 answer
4k views

Could world hunger be ended for 40 billion USD per year?

The World Food Program USA claims that 345 million people around the world: are experiencing the most severe levels of hunger including starvation. These are the people the U.N. World Food Programme ...
EarlGrey's user avatar
  • 489
2 votes
0 answers
334 views

Were Covid-19 vaccine manufacturers asking for reduced liability invoking the unprecedented testing schedule?

According to RebelNews, Canadian MP Anthony Housefather said It's because these documents were signed at the beginning of the pandemic when everybody was desperate for vaccines, when companies were ...
the gods from engineering's user avatar
11 votes
0 answers
2k views

Is the Greek Orthodox church worth 700 billion Euros?

This Wikipedia list puts the Greek Orthodox church's net worth at 700B Euros in 2011 (about 974B USD), above any branch of the Catholic church or other religion. Its source is France 24, but I am not ...
Caleb Stanford's user avatar
6 votes
1 answer
4k views

Did Biden say that the Boeing-Air India deal will support 1 million jobs?

This Business Insider India news report is one of many that claim that Biden said that a $34 billion dollar Air India order for 220 Boeing planes will support 1 million US jobs, and that many of those ...
whoisit's user avatar
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6 votes
0 answers
356 views

Is 70% of the world economy weather-sensitive?

Several sources make varying claims that 70% of the global economy is sensitive/dependant on the weather: Frogcast: Participative fundraising 70% of the world economy is weather sensitive. JOM: ...
Tutuquinho's user avatar
4 votes
1 answer
339 views

Is Israel exporting 100s-of-Millions, or Billions, USD of arms per year?

A multi-annual chart on the "trading economies website suggests Israeli arms exports have a "total insurable value" of hundreds of millions of USD per year. However, this story on the ...
einpoklum's user avatar
  • 2,501
25 votes
2 answers
8k views

Did Lincoln say, "When we buy steel made in America, we get the steel and the money too"?

In "Industrial Policy Comes Full Circle" (Dec. 15), Clyde Prestowitz (Wall Street Journal, 2022-12-11, 2022-22-15 print edition p. R17): Lincoln said: "I don't know much about tariffs, ...
user avatar
26 votes
3 answers
8k views

Is money being spent globally being reduced by going cashless?

There is a scenario going around the Internet (Google link showing extent of reach) saying the following (with possible slight variations which I haven't spotted yet)... Why should we pay cash ...
Chris Rogers's user avatar
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5 votes
0 answers
767 views

Did Elon Musk pay more in taxes than every politician in the world combined?

A tweet claims Elon Musk paid more in tax than every politician on earth combined: Which, if correct, is extraordinary. So, did he?
stevec's user avatar
  • 261
5 votes
1 answer
463 views

Does an “average-sized” power station pay over a quarter billion pounds per day when unable to generate electricity?

Given the war in Ukraine and associated sanctions on Russia and reciprocal withholding of supply, Europe is facing a gas shortage. The UK imports very little Russian gas, but because of the reduced ...
Tim's user avatar
  • 3,865
14 votes
1 answer
892 views

Has wholesale electricity price in France increased to €1000 per MWh, up from €85 per MWh?

This broadcast ... France to restart all nuclear reactors by winter amid energy crunch • FRANCE 24 English ... says: The wholesale price for 2022 was €85 per MWh and the price for 2023 has gone up ...
ChrisW's user avatar
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11 votes
2 answers
749 views

Has the oil industry made $1 trillion dollars of profit a year for 50 years?

A headline in the Guardian on July 21 2022 claims the following: Revealed: oil sector’s ‘staggering’ $3bn-a-day profits for last 50 years [Note that $3 billion/day is roughly $1 trillion per year.] ...
matt_black's user avatar
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10 votes
1 answer
2k views

Did the Russian government have a 20 billion Euro budget surplus in the first half of 2022?

Various German media outlets (including the Tagesschau) have reported, that the Russian state has made a 23 billion Euro surplus in the first half of 2022. Despite the sanctions, Russia achieved a ...
SirHawrk's user avatar
  • 263
35 votes
1 answer
7k views

Did the percent of humans living on < $2/day drop from 94% to 8.6% since 1820?

In a recent Vox article, the author claims (without citation): In 1820, some 94 percent of humans lived on less than $2 a day. Over the next two centuries, extreme poverty fell dramatically; in 2018, ...
johnDanger's user avatar
7 votes
1 answer
684 views

Has Russia pegged the ruble to gold in the sense that U.S. dollar was before August 15, 1971?

Some sites like this one, this one, this one and some social media posts like this one refer to news articles saying that Russia has linked ruble to gold at 1 gram = 5000 roubles. Also Forbes seems to ...
alec's user avatar
  • 173
9 votes
1 answer
749 views

Is their tax bill the single biggest cost of living for most households in the UK?

Mark Littlewood wrote an opinion article in The Telegraph [unpaywalled alternative] atacking the UK's Conservative Party. He claimed: For most households, the single biggest cost of living is their ...
User65535's user avatar
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14 votes
1 answer
805 views

Is the current crisis in the Sri Lankan economy caused by a decision to mandate organic farming?

The Sri Lankan economy is currently having something of a major crisis. This BBC report points out they are about to default on major international loan payments: Sri Lanka crisis: Government ...
matt_black's user avatar
  • 56.2k
19 votes
2 answers
6k views

Did the USA increase oil imports from Russia after the Ukraine invasion?

According to Zhao Lijian of the Chongyang Institute for Financial Studies at Renmin University of China (RDCY) [...] Russian Security Council Deputy Secretary Mikhail Popov said, in a contrasting ...
Evan Carroll's user avatar
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4 votes
0 answers
336 views

Is it true that the Bennington College endowment is low because they declined donations to maintain academic independence?

Some (possibly dubious) college Q&A web sites (e.g. this one) make the claim that Bennington has a paltry endowment of $3.5 million, the result of a historical philosophy - now recognized by its ...
Joshua Frank's user avatar
11 votes
1 answer
519 views

During the disintegration of the Soviet Union, was there a surge of child allergies in Tajikistan because people hoarded soap?

The Hesitant U.S. Rescue of the Soviet Economy Wilson Quarterly (Fall 2016): By November 1990, Professor Graham Allison of Harvard University had become alarmed at the deterioration of the Soviet ...
the gods from engineering's user avatar
36 votes
2 answers
30k views

Were a large fraction of US Dollars in existence printed since 2020?

For many months now I have heard claims on the internet and radio that some large fraction of USD "in existence" were printed since 2020. The percentage ranges between 40 and 80%. Is it a ...
thechimp's user avatar
  • 481
2 votes
0 answers
908 views

Is Burj Khalifa paying itself off?

Wikipedia claims: The concept of profitability derived from building high density developments and malls around the landmark has proven successful. Its surrounding malls, hotels and condominiums in ...
tryst with freedom's user avatar
20 votes
1 answer
9k views

Is over 96% of Moderna's revenue from their COVID-19 Vaccine?

In a recent YouTube video from "The Lotus Eaters", one of the anchors states that "During the previous quarter, Moderna's earnings on their shares were 4.97 billion overall, and the ...
tuskiomi's user avatar
  • 1,573
5 votes
0 answers
518 views

Does the mass of human made objects exceed the entire biomass on the planet?

An article in Nature, "Global human-made mass exceeds all living biomass" in 2020 has recently gained some attention on social media (see this Twitter thread) possibly because of a striking ...
matt_black's user avatar
  • 56.2k
1 vote
0 answers
362 views

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 ...
Stupid_Intern's user avatar
44 votes
2 answers
13k views

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 ...
A E's user avatar
  • 7,319
31 votes
3 answers
8k views

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 ...
Sherwin Lott's user avatar
2 votes
0 answers
298 views

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 ...
A E's user avatar
  • 7,319
27 votes
2 answers
9k views

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 ...
the gods from engineering's user avatar
-4 votes
1 answer
204 views

Was the financial crash of 2008 caused by top graduates of the American Ivy Leagues working at wall street banks?

From this article by Lisandro 'Leloy' Claudio, a Chair of the Center for Southeast Asia Studies at UC Berkeley: a country can become a sad place if its most brilliant minds prioritize profit. In the ...
BCLC's user avatar
  • 429
9 votes
1 answer
700 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 ...
user2638180's user avatar
  • 2,406
33 votes
2 answers
22k views

Are some of Hamas current and former leaders billionaires?

On June 2, 2021, the Israeli Channel 13 aired a segment entitled Parties, lavish houses, and fancy cars: lifestyles of the children of Hamas leaders, in which the following claims were presented: ...
Zev Spitz's user avatar
  • 438
6 votes
0 answers
310 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 ...
Lambert macuse's user avatar
1 vote
2 answers
774 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 ...
dsollen's user avatar
  • 9,830
6 votes
2 answers
5k views

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, ...
JonathanReez's user avatar
  • 10.7k
54 votes
3 answers
6k views

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 (...
matt_black's user avatar
  • 56.2k
25 votes
1 answer
7k views

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 ...
matt_black's user avatar
  • 56.2k
3 votes
1 answer
357 views

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 ...
Alexei's user avatar
  • 523
4 votes
0 answers
325 views

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 ...
Christian's user avatar
  • 33.7k
5 votes
0 answers
340 views

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 ...
the gods from engineering's user avatar
0 votes
1 answer
1k views

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 ...
John's user avatar
  • 27
6 votes
1 answer
842 views

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 ...
matt_black's user avatar
  • 56.2k
7 votes
1 answer
647 views

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 ...
Sebastiaan van den Broek's user avatar

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