Economics is a discipline of models. When many people hear economic theories, they ask questions like “but what about all of the other factors?” For instance, how can a “rational actor” model of the stock market, where all investors are omniscient cost-benefit machines, predict the psychologically-driven and irrational choices of actual stock-holders?
Though the U.S. is among the leaders of the world’s high-tech economy, it is only ranked 20th in the world in household broadband access. However, a new FCC plan could change that.
Supply-siders, “Reaganites,” and other cult followers of the almighty tax cut run rampant throughout the modern Republican party. While economists and political scientists ran through simulations and calculations to try and find the best monetary answer to the worst financial crisis in decades, the Cultists chanted that we should cut taxes, cut taxes, cut taxes.
The current health care reform is covering necessary changes—but it has left the hard work for later. One major issue the reform has failed to adequately address is the most momentous of all: the unsustainable growing costs of the health care industry.
My brother recently got a job. This might not seem like a big deal to most people at Stanford, but in an area where the unemployment rate for high school graduates is significantly higher then the national average, it was a big enough deal for my mom to call me excitedly and tell me that she was proud of him.
Last year’s financial crisis emphasized how closely various nations’ economies are tied together, regardless of their wide spectrum of political leadership. This dynamic of political difference and economic interconnection is highly visible in the relationship between the United States and the People’s Republican of China.
Even many hardcore economists are beginning to admit that despite our GDP growth, we are making little domestic progress. According to one purely economic measure, the genuine progress indicator (GPI), the United States has seen no increase in annual per capita wealth since 1976.
Imagine the ability to access your files from any computer at any place on earth, coupled with the fastest processing speed available regardless of your operating system. This is the promise of cloud computing: an internet-based solution to the traditional problems of variable storage, accessibility, and speed of computers.
