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.

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U.S. income growth

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

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Welcome to the Introduction to Microeconomics blog for Fall 2013

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