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Estimating Santa's salary is a specific task that takes us to the broader issue of whether the GDP should include unpaid work.
Perhaps comparable to Alphabet's (Google's) X subsidiary, the old AT&T's Bell Labs produced invention that became breakthrough technology.
To calculate the real cost of flying, to the fares and the fees, we need to add the time, aggravation and inconvenience created by poor airport design.
When we receive presents that disappoint us, gift giving creates deadweight loss that diminishes the economic boost from holiday spending.
While superstition tells us that babies born during the Year of the Dragon will have more success and power, economists look at human capital investment.
Hello Everyone-
I’m Elaine.
Having been in the classroom for decades, written three books (and some of a fourth one), I like to think about economics everywhere all the time. Every day, I’ve added a blog to econlife—now it has been almost 14 years and more than 4,000 posts. I am delighted that you are here and hope we can have some economic fun together.