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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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Did US Consumer Confidence Index rise up to the highest level in more than 15 years in December 2016?

realDonaldTrump claimed in this tweet: The U.S. Consumer Confidence Index for December surged nearly four points to 113.7, THE HIGHEST LEVEL IN MORE THAN 15 YEARS! Thanks Donald! Did US Consumer ...
9
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1answer
640 views

Does it take the average US worker in 2015 just 17 weeks of work a year to earn the average living standard of 1915?

In his TED talk "Why are there still so many jobs?", David Autor stated: The average worker in 2015 wanting to attain the average living standard in 1915 could do so by working just 17 weeks a year,...
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1answer
432 views

How much is the new Air Force One projected to cost?

President-Elect, Donald Trump recently tweeted that the cost of replacing Air Force One, the Presidents airliners would be 4 billion US dollars. This figure is reported as accurate elsewhere. Other ...
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2answers
1k views

Are 11.6% of world's billionaires Jews?

The Jewish people may account for less than 0.2% of the world's population, but among the 1,426 billionaires around the globe, 165 or 11.6% of them are Jews, and their joint wealth has reached the ...
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2answers
863 views

Did Apollo Moon landing program cost less than lipstick used by American women during same 11 years?

On a recent Dan Carlin's "Common Sense" podcast, James Burke claimed that Apollo program to land the man on the Moon cost less than what American women spent on lipstick in the same period of time. ...
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2answers
8k views

Are 550 people still losing their jobs at “Trump's” Carrier plant?

Donald Trump made saving the jobs at Carrier a big campaign rallying point. On December 06, 2016 New York Times reported from Chuck Jones, the president of United Steelworkers Local 1999, that 550 ...
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1answer
659 views

Did increase in minimum wage cause a decrease in crime in NYC?

I was recently reading about the pros and cons of increasing the minimum wage. This excerpt is from pro #15 at the bottom of this webpage: Researchers who studied crime rates and the minimum wage ...
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Do minimum wage laws disproportionally negatively affect African Americans and Hispanics? [duplicate]

I was listening to a podcast, and they said that an increase in minimum wage would disproportionally negatively affect African Americans and Hispanics in the US. The reason being is that when the ...
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1answer
1k views

Is there a wage gap between smokers and non-smokers?

I recently saw a PSA from the organization "truth" that claimed there was a wage gap between smokers and non-smokers (the idea being that you should stop smoking if you want more money). http://...
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3answers
9k views

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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1answer
926 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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Are the youngest siblings the most likely to become millionaires?

This facebook meme states: The youngest sibling of the family is the most likely to become a millionaire" Is this true?
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520 views

Did John Nash Jr. write equations on the windows of a Princeton library? [closed]

I know that the pen ceremony at the end of the film, A Beautiful Mind, to announce that he had won the Nobel Prize in economics was completely fiction. What about the scenes in the movie that showed ...
11
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1answer
705 views

Did DR Congo use banknotes with hole where Mobuto's face used to be after he was deposed?

On almost every list on the internet featuring strange banknotes that were at one time in circulation, one can find a picture of old Zaire banknotes with the image of the dictator Mobutu's face ...
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542 views

Does the meat industry cause 414 billion dollars in externalized costs?

About 34 minutes into the 2014 Documentary Cowspiracy, there is a statement by David Simon, the author of Meatonomics, about hidden costs of animal food production. I've added up the costs of ...
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2answers
2k views

Do Scandinavian-Americans have a higher standard of living than Scandinavians?

A Bloomberg article by the economist Tyler Cowen attributes the following claims to Debunking Utopia: Exposing the Myth of Nordic Socialism by Nima Sanandaji: Danish-Americans have a measured ...
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2answers
2k views

Does nearly half the world's population live on less than $2 a day?

This UN page about 'Hunger', for example, says, Nearly half the world’s population, 2.8 billion people, survive on less than $2 a day. Quotes like this are shocking; but practically, I don't ...
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1answer
565 views

Are one-third of human deaths from “poverty-related causes”?

I found a poster that makes some incredible claims, and I want to see how well they stand up to scrutiny. The citation is vague, and I wonder how accurately the claims represent the sources, if at all....
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1answer
467 views

Is this graph of changes in real wages since the recession correct?

This chart has been doing the rounds lately. It seems to be based on a TUC (UK trade union) analysis of the 2016 OECD Employment Outlook publication (Figure 1.6). But that particular figure shows ...
11
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1answer
867 views

Are wages stagnent over the past 40 years in the USA?

Over the past few weeks, it has become a common talking point at either major party's convention to talk about the lack of movement in USA citizens' wages since approximately the middle of the 1970s. ...
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1answer
419 views

Are there 80,000 unoccupied residential properties in Melbourne, Australia?

There have been a number of claims that there are many unoccupied properties in Melbourne, Australia, and that this causes a meaningful difference in the price of rentals and purchase. For example, ...
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1answer
657 views

Has freedom of movement of people lead to a reduction in wages and worsening of working conditions in the UK?

Has freedom of movement of people lead to a reduction of wages, and a worsening of working conditions, in the UK? From 'If you've got money, you vote in ... if you haven't got money, you vote out' ...
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3answers
14k views

Did the UK slip to sixth largest world economy from fifth, less than 24 hours after the EU referendum vote?

Some news sources have reported that in the 24 hours after the UK's results on the EU referendum came through, the UK dropped from 5th largest economy in the world, to 6th, being overtaken by France. ...
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1answer
2k views

Does the UK send the EU £350 million a week?

I got this propaganda leaflet through my door today, this has been widely claimed by parties in favor of the British EU referendum: We send the EU £350 million a week - let's fund our NHS instead ...
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1answer
22k views

Did Germany produce so much renewable electricity on May 8th 2016 that their power prices went negative?

This picture has been floating around the internet On May 8th, 2016, Germany's solar, wind, hydro and biomass plants generated so much energy, power prices actually went negative. Is this true? I ...
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Can 3D ocean farms provide food and biofuel far more sustainably than other sources?

This article in The Nation contains an excerpt from “Ecological Redemption: Ocean Farming in the Era of Climate Change,” a lecture by Bren Smith given at the Thirty-Fifth Annual E. F. Schumacher ...
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179 views

Is austerity effective at boosting an economy's growth or reducing a country's debt? [closed]

Some governments currently have austerity policies, which involves large cuts in public spending. The claim made is that this is necessary to reduce the country's deficit, and boost the growth of the ...
3
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1answer
274 views

Could candy crush in-app purchases gross revenue keep over a million children fed in africa? [closed]

Discussing the mobile app in-app-purchase model, candy crush came up, and someone said the gross revenue of that app family alone could keep over one million children fed in africa. Some googling ...
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1answer
2k views

Does the U.S. government spend four times as much on welfare as it would take to eliminate poverty by giving the necessary cash?

According to this article by Peter Ferrara, the U.S. spends more than four times as much on welfare as it would take to simply cut every person under the poverty line a check large enough to bring ...
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1answer
205 views

Can MSG be made from petroleum [closed]

Once again a famous article on how bad is Nutella was shared to me. Thankfully, from Skeptics we can disminish the main argument of the claim which rely on the fact that MSG is bad (but as shown here, ...
12
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2answers
1k views

Does the US spend more on prisons than public education?

I have heard often that the US as a whole or States in it "spend more on prisons than on schools". This is apparently true for higher education, but I am interested in schools as in public education (...
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1answer
6k views

Do researchers receive no income from revenues arising from their published papers?

According to this article Meet the Robin Hood of Science (about the creator of a website to bypass paper access restrictions and paywalls), Elbakyan made a point that will likely come as a shock to ...
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1answer
9k views

Does the cardboard box cost more than the corn in cornflakes?

In today's edition of CNN Student News (transcript), devoted to the topic "breakfast cereal", the following claim was made: Let`s start with the cereal itself. At its core, cereal is actually the ...
13
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1answer
704 views

Have the Clintons received $153 million in speaker fees?

The Hill reported in an article entitled, "Clinton promises to release Wall Street transcripts if opponents do the same". Clinton and her husband, former President Bill Clinton, have racked up $153 ...
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1answer
694 views

Has the US given more aid to the average Israeli citizen than the average American citizen?

From an article entitled, "U.S. Aid to Israel: What U.S. Taxpayer Should Know", by the Washington Report on Middle Eastern Affairs, Since 1949 the U.S. has given Israel a total of $83.205 billion. ...
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1answer
603 views

Has the average standard of living in the United States decreased in recent years?

I have seen many articles claiming that the standard of living in the United States has decreased over the last 15-30 years. (I understand standard of living to be the ability of workers to buy the ...
20
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2answers
634 views

Do certain Indian beggars earn in excess of INR 50k per month?

The below image has been circulating on Facebook on and off, it says that rich beggars earn 50-130k per month Is this number substantiated by any concrete data? For context, 1 lakh = 100k 1 Crore(...
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0answers
298 views

Is the optimal temperature for human productivity 13°C? [closed]

A recent study attempting to quantify some of the economic costs of a warming climate argues that the optimal temperature for human productivity seems to be 13°C. As the Washington Post reports: ...
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0answers
141 views

Is it true that the amount of debt is (always) equal to the amount of credit? [closed]

I recently noticed critics of our financial system state that the amount of debts is always equal to the amount of debts. Is this true? I have so far only found German-language sources for this claim, ...
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1answer
329 views

In literate countries, does more education lead to more economic growth?

In Matt Ridley's latest book he makes many challenges to widely accepted ideas. He challenges the widely held idea that more education is good. For example: Is there any evidence that it was ...
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1answer
270 views

Does government funded R&D promote economic growth?

In Matt Ridley's latest book he repeats a claim originally made by Terence Kealey (my highlighting): In 2003, the OECD published a paper on ‘sources of growth in OECD countries’ between 1971 and ...
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1answer
3k views

Is extreme poverty in the world getting worse?

In a recent Guardian article Jason Hickel argues that the west needs to de-develop in order to have any hope of meeting the UN goal of eradicating world poverty. He specifically says: Growth has ...
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1answer
3k views

Did the United States annual free tax credits paid to illegal immigrants quadruple to 4.2 billion in 2011?

In Donald Trump's Immigration Policy for the 2016 US Presidential Election campaign, he claims: The costs for the United States have been extraordinary: U.S. taxpayers have been asked to pick up ...
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1answer
6k views

Is Donald Trump's ratio of bankruptcy to businesses consistent with the success rate of other entrepreneurs?

Closely related to this question: Did Donald Trump file for bankruptcy four times? Donald trump has consistently claimed that filing for Chapter 11 bankruptcy is not unheard of and 'only' four ...
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1answer
353 views

Did Libyan brides get a USD 90000 dowry from the government?

This pro-Gaddafi source used in this answer makes the claim that, amongst other benefits Libyan citizens get from the Gaddafi government, Libyan brides get a 90000 USD dowry from the government: ...
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0answers
182 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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0answers
342 views

Was it common in the USSR for an enterprise to buy steel knives so to melt down them for steel?

This article claims it was common in the USSR if an enterprise needed steel, to buy say knives or other steel goods and melt them for steel. In general, control by the ruble was designed to ...
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0answers
281 views

Did only 9700 women reply to messages on AshleyMadison.com? [duplicate]

From Gizmodo.com: Yet another field, reply_mail_last_time, showed a similar disparity. This field contained the time when a member had last replied to a message from another person on Ashley ...
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1answer
41k views

Is Snopes.Com funded by George Soros?

Snopes is sort of notorious for being a relatively "bias-free" fact-checking site. However, I notice that in certain conservative circles it is written off as funded by liberals, most notably the ...
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2answers
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Do teachers make more per hour on a career basis than doctors?

This site, shared on facebook many times, as well as linked in many places, claims that, because of the immense amount of debt and training doctors must undergo, an American physician, when you divide ...