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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35
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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 ...
18
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0answers
2k 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 ...
5
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2answers
416 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 ...
11
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2answers
633 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 ...
28
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2answers
11k views

Do Greeks evade taxes by not finishing their houses?

I've heard this claim several times: Q: Why are there so many unfinished houses in Greece? A: as long as the house is not finished, they don't have to pay building tax for it. So the leave it ...
15
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1answer
966 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
588 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 ...
15
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1answer
2k views

Does Sallie Mae earn more from defaulted education loans than properly repaid ones?

I was sent an article by Catherine Austin Fitts, the author of the Solari Report, entitled William M. Diefenderfer: The Financial Hit Man of Student Loans. It contained some rather striking claims ...
7
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1answer
743 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 ...
7
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0answers
183 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 ...
12
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1answer
889 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 ...
8
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2answers
854 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
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2answers
479 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 ...
10
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1answer
962 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 ...
4
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1answer
813 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 ...
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
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0answers
267 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 ...
2
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2answers
644 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
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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! ...
48
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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 ...
1
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1answer
448 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 ...
5
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0answers
198 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 ...
6
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2answers
922 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 ...
24
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2answers
6k views

Do Americans use 500 million straws per day?

CNN claims that Americans use 500 million straws per day. Every day, Americans throw away 500 million plastic straws, enough to circle the Earth twice, or fill 125 school buses. Other sources ...
12
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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 ...
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 ...
43
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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 ...
4
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0answers
261 views

Did a dust storm in Saudi Arabia cause it to “rain” money?

The report Video: Storm in Saudi Arabia (or Dubai) causes money to rain. Emirates 24|7 News, February 24, 2015 claims that a recent dust storm in Saudi Arabia contained, briefly, bank notes flying ...
15
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0answers
342 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 ...
7
votes
2answers
850 views

Are contactless payment cards/phones insecure?

I've heard claims that contactless cards and NFC is no less secure than chip and PIN as indicated below. According to Barclays: All our new Contactless debit cards include the latest advanced ...
2
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1answer
382 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,...
7
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0answers
583 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 ...
2
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0answers
289 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: ...
4
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0answers
129 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 ...
7
votes
1answer
529 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
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2answers
428 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, ...
18
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2answers
9k views

Is the income of the porn industry 50% of the revenues made on the Internet?

Yesterday a friend of mine told me that most of the money which is made in the internet is going to the porn industry. First I didn't believe any word and I was like "Hey, shut up! There is still ...
101
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2answers
19k 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”...
103
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3answers
14k views

Are there more open jobs than available developers?

A recent Stack Overflow blog post claims that: With nearly five open jobs for every available software developer, the need for qualified technical talent is higher than ever. I have seen this ...
6
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0answers
405 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 ...
25
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1answer
2k views

Are Fairtrade farmers paid worse than other farmers in the same regions?

There have been a few articles recently on the (in)efficiency of fair trade organisation Fairtrade. Here is an example from the Guardian: Sales of Fairtrade-certified products from Uganda and ...
29
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3answers
7k views

Is empowerment of women a cure for poverty?

It is stated that giving women equality and control over their reproduction reduces the poverty in any community. Christopher Hitchens: "We already know the cure to poverty...it's quite simply, ...
8
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2answers
773 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 ...
20
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2answers
1k views

Do pricey medicines in the USA subsidise R&D for the rest of the world?

A recent (February 2018) report by the US government Council of Economic Advisors makes the following argument (my highlights): The United States both conducts and finances much of the ...
3
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0answers
218 views

Is the rate of new job creation and destruction slowing down in the US?

Marc Andreessen said in an interview with Tim Ferriss: Most people would guess it's rising. technology is having an ever greater impact right and so things feel like they are accelerating it's a ...
5
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1answer
712 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, ...
6
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0answers
313 views

Are retail clothing prices going down significantly enough to impact the used clothing market?

This article at Bloomberg claims that "...new clothes are becoming as cheap as used ones, and poor countries are turning their backs on the secondhand trade". It also says that "...The tide of ...
9
votes
1answer
807 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
674 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. ...