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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8
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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 ...
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4answers
6k views

Can we end poverty for $US175 billion per year?

A recent question brought up the claim that poverty can be eliminated for 175 billion a year. I found this claim To end extreme poverty worldwide in 20 years, Sachs calculated that the total ...
28
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2answers
4k views

Are there more Greeks driving Porsche Cayennes than paying high-rate tax?

The following claim has been attributed to economist Professor Herakles Polemarchakis. A couple of years ago, there were more Cayennes circulating in Greece than individuals who declared and ...
4
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2answers
604 views

Were nearly all founders of large companies existing in mid 20th century uneducated “rude mechanicals”?

Y-Combinator cofounder and famous hacker Paul Graham publishes essays, and one of his recent ones was 2016 "The Refragmentation". One of the ancillary claims he made was that for the known founders ...
8
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1answer
364 views

Did tax revenue improve after tax rates were cut after Kennedy's death?

This CNN op-ed about Trump's recent attempts to cut taxes makes some historical claims: President Kennedy declared at the New York Economic Club that "it is a paradoxical truth that tax rates are ...
5
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0answers
635 views

Does the Bitcoin network consume as much energy as Denmark?

According to Ars Technica: One estimate suggests the Bitcoin network consumes as much energy as Denmark. There are other sources that make similar claims: Greentech Media claim: The Bitcoin ...
22
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3answers
3k views

Do automobile manufacturers make parts wear out and break easily, just so they can make more money?

It is sometimes heard that automobile manufacturers design low-quality parts that wear out or break easily, so that they can make money on the repair or replacement of these parts. I believe this to ...
13
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3answers
1k views

Does wealth reduce compassion?

Daisy Grewal writes in the Scientific American in the article How Wealth Reduces Compassion: But research suggests the opposite is true: as people climb the social ladder, their compassionate ...
11
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0answers
2k views

Did ISP “pocket” $400 billion that was supposed to be dedicated toward fiber cable infrastructure?

Bruce Kushnick, author of "The Book Of Broken Promises: $400 Billion Broadband Scandal And Free The Net," makes some pretty major claims. The most prominent article, an ad for his book written by ...
9
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1answer
636 views

Did 79% of Greeks not have health insurance in 2013?

The following claim on recession in Greece is pretty shocking on its face, but also a little muddy: Citing OECD data of 2013, the BoG [Bank of Greece] underlines that 79% of the population in ...
44
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1answer
8k views

Is austerity in the UK responsible for “120,000” extra deaths?

The UK government has been implementing tight constraints on public spending to attempt to recover from the 2008 financial crash and bailout. But this austerity is controversial. A recent report in ...
16
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2answers
1k views

Does the fossil fuel industry benefit from trillions of dollars of subsidy from governments every year?

This IMF working paper claims that the fossil fuel industry benefits from trillions of dollars of government subsidies every year. It is a working paper intended to "promote discussion" and not the ...
28
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2answers
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Are Fair Trade products guaranteed to be 'fairer'?

I was wondering about Fair Trade foods/products (products carrying the international certificate) as I have never seen an actual policy or standards on how much farmers/producers get paid. Is there ...
32
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1answer
3k views

Organic food is worse for the environment because it requires more land than non-organic food

I've heard that organic crops and husbandry are worse for the environment than non-organic equivalents because in the absence of pesticides and fertilizers much more land is required for an organic ...
14
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1answer
940 views

Does placing a fly on a urinal improve cleanliness in men's toilets?

Recently Richard Thaler won the Nobel Prize for Economics for his "Nudge" Theory. Pretty much every news agency (in the UK at least) has chosen to explain his theory by using the "Fly on a Urinal" ...
14
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1answer
2k views

Do most economists consider lump of labor to be a fallacy?

As an economist in training, it is my understanding that the idea that there is a fixed amount of work is considered a fallacy by most economists. For example, when Paul Krugman discusses it, he ...
12
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4answers
889 views

Does the Jones Act double import prices in Puerto Rico?

The Jones Act is a protectionist law passed in the 1920's requiring ships carrying goods between American ports to be made in America and crewed by Americans. The Jones Act has become an issue ...
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2answers
612 views

Do some Jewish American charity organizations fund the Israeli military?

This was claimed by multiple sources, as an example Is it not striking that the US grants charity status to organizations whose sole mission is to support the army of another country? Are there ...
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 (...
3
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0answers
207 views

Did Marx imply that indigenous Mexicans were racially inferior? [closed]

http://www.jstor.org/stable/41035216 Marx classed the Indians of Mexico as "the last of men". Is this an accurate representation of what Marx said?
2
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0answers
170 views

Is publicly-funded housing more likely to be in areas of large US cities with lower elevation? [closed]

In large US cities, is there any correlation between elevation and property value? Specifically, does publicly-funded housing tend to be built in areas with lower elevation than higher-priced housing? ...
1
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2answers
449 views

Does Congress appropriate 300 billion annually to agencies which cannot legally receive appropriations?

According to the article Inappropriate Appropriations in The Weekly Standard: Congress spent $310 billion last year on some 250 agencies and programs that were no longer — as required under the law ...
3
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2answers
608 views

Why does the IRS want you to declare income from illegal activites? [closed]

According to a paper by the IRS you should declare illegal income from dealing drugs or stolen property. What's the motivation behind this? And are there examples of people who reported such ...
11
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0answers
2k views

In the economic crisis of 2008, were some companies truly “too big to fail”?

During the first of the half of the current economic crisis, some companies began to collapse due to the subprime mortgage crisis or from the cascading economic damage that it entailed. A danger was ...
19
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1answer
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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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1answer
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Does NASA have a high ROI?

One of the oft-cited reasons for funding space exploration is the high return on investment, in terms of boosting the economy. For example Studies estimate that for every $1 the U.S. government ...
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0answers
881 views

Did Comcast attempt to coerce Netflix by slowing down its traffic?

In 2014, a news story erupted over a dispute between Netflix and Comcast over connectivity and distribution. Comcast was accused of deliberately blocking or restricting Netflix traffic. For example, ...
18
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1answer
1k views

Is credit card use more environmentally friendly than cash?

A popular organic food store in Amsterdam has this sign posted near the entrance: Welcome! Marqt accepts all credit or debit cards, free of charge. Thank you for contributing to a safer and ...
3
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1answer
318 views

Do vinyl records account for 3.6% of global music sales?

Sony is restarting production of vinyl records after 30 years. That's pretty surprising. Even more surprising to me though is one of the reasons provided: in 2016, a format nearly a century old ...
7
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0answers
951 views

Is this graphic about female executives accurate? [closed]

Is this graph about female executives accurate? Women in executive positions earn 18% less than the average male executive. This is why: 70% Allocative hiring: only 3.7% of all ...
16
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2answers
3k views

Are teachers in the United states paid poorly?

At the last "Save Our Schools" rally, Matt Damon said: So you think job insecurity is what makes me work hard? I want to be an actor. That’s not an incentive. That’s the thing: See, you take this ...
17
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3answers
3k views

Is the British monarchy economically beneficial?

When considering the economic impact of the British royals on the economy/budget, a first thought might be that they cost the state money since they don't do any "real" work and yet live quite ...
28
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1answer
4k views

Is the economic situation portrayed in “Loving” accurate?

The recent movie Loving is acclaimed for its historical accuracy. Whereas the story about the case in front of the supreme court is documented as someone from a much later generation I am skeptic but ...
12
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0answers
1k views

Is this €150k beach club bill real?

This bill, with a total amount of over €150,000, from a beach club in Monaco is currently circulating on social media. Is it real? I've checked the website of the beach club; some of the more common ...
27
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2answers
74k views

Does Louis Vuitton burn all their unsold bags?

It first ran across the notion with this meme Every year Louis Vuitton burns all their unsold bags A google search yields lots of results but none of them seems credible. Snopes yields nothing. ...
35
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4answers
6k views

Can we grow enough crops to feed all people on Earth?

Vegetarianism is heavily promoted. But let's say all people on Earth stop eating animal products. Can we grow enough crops so all people on the Earth are provided with enough healthy, nutritious food? ...
4
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0answers
227 views

Did training Bell executives in humanities subjects lower their interest in working? [closed]

The story I heard happened in the 1950s-60s, at 50-60x at Bell Telephone in the USA Top management of the corporation noticed a majority of their managers were formerly engineers and often they don'...
1
vote
1answer
448 views

1 job to incinerate 10,000 tons of goods

In a CleanTechnica article taken from The Beam, it is stated that: As is often the case in developed markets, we only create one job for every 10,000 tons of goods produced Thanks to Oddthinking,...
2
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0answers
349 views

Do Women Make Up 85% of All Consumer Purchases? [duplicate]

This video seems to be the source of the claim but I can't find what statistics they use to back it up. These figures are duplicated at She-Conomy: Women account for 85% of all consumer ...
2
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0answers
303 views

Could the EU “take Britain to the Hague” over the “£50 Billion EU divorce bill” [closed]

I've seen several papers (express, telegraph) claiming that Britain will have to pay a £50 Billion 'fee' for leaving the EU. A further paper (Independent) has written (emphasis by me): “In that ...
65
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4answers
12k views

Do airlines in North America make around $10 profit per customer?

A quick google search returns several articles such as this one claiming that airlines make less than $10 in profit from each customer. I feel there are a few reasons to doubt this premise: You can ...
9
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0answers
1k views

Do candles create more carbon dioxide than light bulbs?

During the annual ritual of Earth Hour: ...around one billion people are expected to switch off their lights for one hour as a political statement against climate change and fossil fuels, and in ...
53
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2answers
6k views

Does recycling create more pollution than it prevents?

My city, like many, has a recycling program, which I believe is supposed to reduce pollution and create some positive economic activity. But I've heard many people argue that recycling programs are a ...
8
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1answer
780 views

Were there 600 millionaires in Gaza in 2014?

In 2014, The Algemeiner reported: Pan-Arab London based paper, Asharq al Awsat, which is considered a reliable media outlet, recently ran a story saying there are 600 millionaires in Gaza. The ...
35
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5answers
4k views

Is peak oil still set for 2013?

There have been various dates that I've read about the prediction of peak oil, when global petroleum production will stop growing theoretically. Some claim 2020s; others say the 2050s as the final ...
10
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1answer
768 views

Do the motors of washers last only 1/3 to 1/4 as long as they used to?

Ryan Finlay writes in They Used To Last 50 Years: Let me start with an example: for top loading washers and dryers two of the most expensive parts on the machines are the timer and motor. For ...
38
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4answers
8k views

Is this “fall of industrial production” graph accurate?

A candidate to the French presidency tweeted The fall in industrial production in Spain, Italy and France of course has a link with the euro. However I have a couple of doubts on its ...
6
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1answer
593 views

Is Sesame Street at risk of losing funding with Trump's new budget proposal?

Trump's latest budget proposal includes cuts to the Corporation for Public Broadcasting. There have been claims that this would endanger funding to Sesame Street. However, Sesame Street moved off of ...
6
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1answer
490 views

Did the shuttle cost more per launch than a Saturn V (after inflation)? [closed]

I got this one from some political debate; unfortunately no reference to it. I know the shuttle was a boondoggle; but I find it hard to believe it was really that outrageous. On the other hand, the ...