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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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
260 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 ...
1
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2answers
623 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
445 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
197 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
915 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
333 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
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2answers
840 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
368 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
559 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
286 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
126 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
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1answer
522 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
421 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
8k 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 ...
100
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2answers
18k 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”...
105
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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
771 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
706 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
312 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 ...
10
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1answer
687 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
665 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. ...
22
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1answer
2k views

Do typical modern pharmaceutical firms spend more on marketing than on R&D?

Developing new drugs is an expensive process. As a result the pharmaceutical industry spends a lot on R&D (15% of turnover is not unusual and is higher than most other major industries: see report ...
53
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9answers
7k views

Is public transport less fuel-efficient than cars?

Someone who is opposed towards energy saving and climate change (I did not realise they existed until I met him) has told me that public transport (buses, trains and so on) are less efficient than ...
20
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7answers
2k views

Can a society become unhappier with an increase in wealth?

People like to claim that less developed countries are happier, because they live the simple life and stronger family ties. We've all heard the saying: Money can't buy you happiness. Which is easy ...
9
votes
1answer
710 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' ...
3
votes
1answer
505 views

How much does the White House pay to their employees?

Once I read that White House has 377 employees and Brazil's Palácio do Planalto has 3.800 employees. I wonder if this number, 377, is true and how much does the USA pay for White House's employees.
6
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2answers
508 views

Was $262.9B worth of Star Wars merchandise sold in 2016?

The website, Cracked, recently posted an article which stated: In 2016, $262.9 billion worth of Star Wars merchandise was sold. According to the 2016 GDP by country, if Star Wars was a country, ...
2
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0answers
779 views

Is bitcoin a pyramid scheme? [closed]

According to the Fortune Magazine article This Billionaire Just Called Bitcoin a 'Pyramid Scheme', Howard Marks said: In my view, digital currencies are nothing but an unfounded fad (or perhaps ...
2
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0answers
258 views

Is it true that besides Volkswagen, many other car companies also similarly cheated in the emission test but faced limited consequences?

The Volkswagen emission cheating is well-known at this stage. However, I heard some people say that many other car manufacturers have actually been performing similar cheating in emission tests. Last ...
15
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1answer
6k views

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), ...
67
votes
3answers
7k views

Is the gender pay gap evidence of discrimination?

(I've asked this before but people had troubling separating the question from just the gender pay gap. This is a way I was suggested to ask it, so I am giving it a try) No one can deny the gender pay ...
6
votes
0answers
481 views

Are “Confessions of an Economic Hit Man” truthful? [closed]

John Perkins wrote a book "Confessions of an Economic Hit Man" as a disclosure of US foreign policy to economically destroy underdeveloped countries. Perkins claims that US grants and loans increase ...
16
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1answer
1k views

Were iron nails at one time so scarce that pioneers in America burned down their cottages to retrieve them?

Heilbroner and Thurow, Economics Explained (1982, 1998): Iron nails were so scarce that pioneers in America burned down their cottages to retrieve them. Another writer (2003): Nails at one time ...
41
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5answers
9k views

Does China control 85% of the supply of rare metals used in lithium batteries?

A selected letter in The Guardian talking about electric vehicles claims: The rare metals in lithium batteries are produced only in inconvenient places. More than 85% of the world’s supply comes ...
32
votes
1answer
6k views

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 ...
8
votes
1answer
3k views

Did Britain borrow $120 billion in 1945?

This copy-paste has being doing the rounds of local newspaper letters pages and dodgy hard-core pro-Brexit Facebook pages, etc: JEAN Claude Juncker should be forced to walk past every white ...