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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1answer
296 views

Does government funded R&D promote economic growth?

In Matt Ridley's The Evolution of Everything: How New Ideas Emerge he repeats a claim originally made by Terence Kealey (my emphasis): In 2003, the OECD published a paper on ‘sources of growth in ...
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1answer
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In literate countries, does more education lead to more economic growth?

In Matt Ridley's The Evolution of Everything: How New Ideas Emerge he makes many challenges to widely accepted ideas. He challenges the widely held idea that more education is good. For example: Is ...
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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 ...
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How is structural unemployment measured?

In light of today's Presidential Speech on jobs, I was reminded of something that I read in Bloomberg Businessweek. With the jobless rate still above 9 percent, the untapped labor pool is deep. Yet ...
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5answers
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Do commercial airline pilots make around $19,000 - $25,000 per year?

I always thought pilots were paid well. I am currently watching the movie "Capitalism, A love Story," and Michael Moore interviews some pilots, in which the pilots say they make around $19,000 - $25,...
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3answers
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Was there no tax before 1913 in the United States?

This image claims that "Up until 1913 Americans kept all of their earnings". Up until 1913 Americans kept all of their earnings Despite this, America still had schools, roads, colleges, vast ...
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2answers
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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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0answers
260 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 ...
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3answers
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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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0answers
286 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 ...
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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
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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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4answers
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Was money invented because barter was deemed impractical?

When the history of money is described, very often the claim is made that people invented money because barter was impractical: a quick Google Search lists many places where this claim is made, e.g. (...
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270 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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2answers
725 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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2answers
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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
336 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 ...
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3answers
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Do the Jewish control a larger proportion of U.S. wealth than their proportion in the population?

As per StormFront (warning: neo-nazi website): While only 3% of the population, the Jews control over 25% of the nation's wealth and this percentage rises every year. Is only 3% of the ...
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1answer
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Did the US spend 7 trillion in the Middle East?

In response to the recent train accident in Washington State, the current President of the United States, Donal Trump, made a claim in a tweet that the US has spent $7 trillion in the Middle East. Is ...
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0answers
551 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 ...
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1answer
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Is the total cost of treating the uninsured in emergency rooms more expensive than government-subsidized urgent care would be in the US?

One of the claims I have frequently encountered in support of government intervention in providing health insurance that is more extensive than Medicare and Medicaid in the US, is that it will reduce ...
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0answers
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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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1answer
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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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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
814 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 ...
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1answer
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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
463 views

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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3answers
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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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3answers
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Does the AMA limit the number of doctors to increase current doctors' salaries?

A suggested reason why doctors get paid so much more in the US as opposed to other developed countries is that the American Medical Association (AMA) artificially limits the physician supply in order ...
146
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1answer
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Did Amazon pay $0 in US taxes in 2018?

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: ...
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231 views

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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232 views

Can the world economic crisis affect Brazil that much as stated by our President? [closed]

So, as most of you probably know, Brazil is in a deep economic crisis. (I'm a brazilian, but I'm linking a outsource media for reference). One of the consequences of this crisis, is the Brazilian ...
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1answer
647 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
442 views

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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3answers
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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
173 views

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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546 views

Is racial income inequality currently in US worse than it was in Apartheid South Africa

As reported here, (and here) white/black wealth inequality is worse now in the US than it was under Apartheid South Africa. The figures brought up during the segment are backed up, too. America's ...
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0answers
919 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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1answer
172 views

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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1answer
650 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
1k views

Does immigration to the USA increase the unemployment rate?

Does immigration to the USA diminish the number of jobs available to US citizens? According to an NBC/Wall Street Journal poll: The poll also finds that 56 percent of American voters believe that ...
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0answers
692 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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Are people of Nordic Nations "happier, healthier" with "a higher standard of living overall than Americans"?

Ernest W. Adams wrote in the answer to the question "Why are people so negative about Nordic nations, especially Sweden?": There are a lot of right wing Americans who have been preaching ...
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1answer
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Do 90% of startups fail?

I have seen this claim made in several popular websites that 90% of startups fail. Two examples: When the founder of a startup company shuts down her or his business, it’s customary to pen an essay ...
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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
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Do 40,000 people die in the United States for every 1% increase in unemployment?

In the 2015 movie The Big Short, the character of Ben Rickert, played by Brad Pitt, makes the following statement to two investment bankers. If we're right (about the housing market collapsing), ...
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1answer
714 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 ...

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