Archive forAugust, 2013

Give the poor cash

This recent article in The New York Times discusses a charity set up by graduate students at Harvard and MIT to give cash to the poor in Kenya without strings attached as to how they spend it.

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Broken window fallacy

Under “Big Idea Three,” the textbook discusses opportunity costs. Failing to include opportunity costs can lead policy makers to fall prey to Frederic Bastiat’s “broken window fallacy.” A recent post from the Federal Reserve Bank of New York discusses the broken window fallacy while assessing the impact of Superstorm Sandy on the New York economy.


U.S. income growth

What does this graph tell us about U.S. income growth between between 1950 and 2010?


Welcome to the Introduction to Microeconomics blog for Fall 2013