economics

Thank A Simple Excel Glitch For Austerity Economics

You know the much-ballyhooed theory that high national debt correlates to crappy economic growth? The one that’s trotted out on a regular basis by politicians arguing for austerity budgets and sequestration? Well, according to new findings, the study that austerity proponents cite more than any other is based on an Excel error. A big one.


Paul Krugman Vs Estonia’s President: The Musical

Last June, Nobel Prize-winning economist Paul Krugman published a scantly worded analysis of Estonia’s “incomplete” economic recovery on his NYT blog. Estonian President Toomas Hendrik Ilves was not amused. Now, a Latvian composer has set Ilves’ Twiraide to music.


Mathematical Proof That Robbing Banks Doesn’t Make Economic Sense

If you’re struggling for cash, maybe the idea of robbing a bank has idly entered your mind. Don’t do it! Because a new study by a team of economists shows that it doesn’t make any financial sense whatsoever.


The Cheapest Ways To Save The World

Ask a bunch of the world’s best economists — including four Nobel laureates — how to make the world a better place, and they don’t just blurt out an answer. They take their time, weigh up impact-per-dollar and make careful decisions. And this is what they came up with.


Sony Reports Record Annual Loss

Sony just reported a record annual loss, of $US5.7 billion. Ouch.


A Wonderfully Simple Explanation Of Oil Price And The Economy

The price of petrol seems to keep changing, but the truth is that the problem isn’t just to do with decreasing oil resources. In fact, the price of the black stuff is linked into our economy in a complex way — and this video beautifully describes what’s going on for those of us lacking an economics background.


Apple Could Build Its Products In The US And Still Make Lots Of Money

You know how Apple makes most of its gear in far-off lands where the people that build them make shamefully little? We always assumed that it had to be like that for Apple to run a successful business. Turns out, that’s not the case at all.


Salary Envy Can Actually Make You Happier

It’s extremely common to look around at your peers who earn more than you do and bemoan your lack of personal income. But, according to a new study, that could be a good thing; a little salary envy could in fact make you a happier person.


Worldwide Vanilla Shortage Is Making Ice Cream A Luxury

At our current rate of consumption, we’re driving vanilla prices sky high. The price for a kilo of the brown stuff has jumped from $US25 to $US40 in a single day, which means your ice creams might soon be an even more expensive treat than usual.


How Your iPod Contains $8 Billion

Copyright maths might not be something you’ve lent much thought to before, but in this talk Rob Reid — founder of Rhapsody — tries to explain the silly numbers that are used to justify SOPA and PIPA. He’s very funny, and his talk is very interesting. Turns out your iPod might be worth more than you thought.


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