The Economics of Happiness

How much do you like your job? Here is an article from the Atlantic.

Image: Internet

The Fan Economy - 'Beyond the Scene'

This article is quite long, but there are many marketing strategies to learn on how to become the market leader and trend-setter. 

Image credit - Statista

A Study of Means and Wants

Found this while searching for international trade materials. You can search for Economic Education Boot Camp, Dallas Fed. 

 

The Dog That Did Not Bark

Here is an article on inflation (3-min. read) from the Islamic Development Bank Institute (IsDB) blog.  I thought the introduction is interesting, which I reproduced below.

"Detective Gregory: Is there any other point to which you would wish to draw my attention? 

Sherlock Holmes: To the curious incident of the dog in the night-time. 

Detective Gregory: The dog did nothing in the night-time. 

Sherlock Holmes: That was the curious incident! 

The Adventure of Silver Blaze"

Image credit: CartoonStock

Inflation in Europe - The Second Round Effect

A podcast transcript with Phillip Lane, the European's Central Bank Chief Economist. Excerpt below:

"...So I think there are differences between, if you like, demand-dominated inflation and supply-dominated inflation. But there are also commonalities. The commonality is no matter where the inflation comes from, if inflation is high, there's a risk of what we call second-round effects: that high inflation this year will lead to, whether firms trying to raise prices next year, workers looking for higher than normal wage increases..." 

Image credit: World Economic Forum

The World of Islamic Finance

Image credit:https://www.undp.org/partners/islamic-finance

Eye Workout

 If you are getting a sudden blurry vision (long hours with computer), try this:

1. Focus on object near and far. 

2. Round the clock eye exercises.

3. Blink repeatedly.

Image credit: Internet

Birches by Robert Frost

Image: Visual interpretation by Julian Peters

Image: Internet

Top Ten Economists Answers

Here is the yearly top 10 answers from Economists, taken from the econlife blog. 

The Top Ten List

1. Whatever the question, always answer, “There’s no such thing as a free lunch…” (or see #10)
2. Defend a decision by declaring, “It was worth the opportunity cost.”
3. Whether you like or dislike government, point to, “The power of the market.”
4. Explain a love of low prices with, “It’s the law of demand.”
5. Explain high prices with, “It’s the law of supply.”
6. Preface a position with, “on the one hand…but on the other…”
7. Justify your Japanese toilet, Sumatran coffee beans, and South Korean washing machine by repeating, 

    “comparative advantage, comparative advantage…”
8. When asked, “How are we doing?” start by citing the GDP, CPI, and S&P. And know that there is so  

    much more to look at.
9.    Recognize that the size of the pie has nothing to do with food.
10.  And finally, the most dependable way to sound like an economist is to remember that, no matter what 

       the topic, Say “tradeoff” as often as possible…

Image credit: Internet

Best Sellers in Economics

 Reposted from Prof Mankiw's Blog. Best Sellers in Economics from Amazon.

Rising Consumer Food Prices Revisited

An article in the IMF Blog written in June 2021 about four facts related to soaring consumer food prices worth reading. 

Excerpt:

"...Emerging markets and low-income countries are also more vulnerable to food price shocks because consumers in these countries typically spend a relatively large proportion of their income on food. Finally, for emerging markets and developing economies an additional risk factor is the currency depreciation against the US dollar—possibly due to falling export and tourism revenues and net capital outflows. Since most food commodities are traded in US dollars, countries with weaker currencies have seen their food import bill increase."

Source: IMF

2023

Calvin and Hobbes (@Calvinn_Hobbes) / Twitter