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The Sveriges Riksbank Prize in Economic Sciences 2007

PricesProduction Theory


The Royal Swedish Academy of Sciences has decided to award The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2007 jointly to Leonid Hurwicz, University of Minnesota, Eric S. Maskin,...

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The New York Times Management: Not as Smart as You

Media and CulturePrices


So the Times has stopped charging for most of its web content. The reason? "Many more readers started coming to...

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Prices are up! Or Down! Depending...



The CPI release this month features its usual aggregation and concludes that prices are rising 5% per annum. But take a look at specifics. If your main thing is driving around and burning fossil fuels, your compounded annual rate of price...

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Gouging you and me

Legal SystemInterventionismPrices


In May, the House of Representatives passed a bill that could lead to fines as high as $3 million per day for gasoline price gouging, which it defined as charging a price that "grossly exceeds the average price offered for sale by that person during the 30 days prior" or "grossly exceeds the...

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Is the Stock Market Rising?

Financial MarketsPrices


I rather like this chart from the New York Times showing the value of the S&P 500 Index in the dollar, three foreign currencies, gold, houses, oil and corn....

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Why High Gas Prices?



I'm intrigued by this NYT explanation: "a surprising culprit: uncertainty created by the government's push to increase the supply of biofuels like ethanol in coming years. In his State of the Union address...

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Who to Believe: Labor or the house spouse?

Austrian Economics OverviewInterventionismPrices


According to the Associated Press, "The Labor Department reported Friday that the Consumer Price Index rose by 0.4 percent last month, double the January increase, as energy prices...

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