Articles on Economics

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Expect to see more ships on the horizon, as global shipping booms. But how well are we measuring and governing what happens at sea? Chris Phutully/Flickr

The challenge of managing Earth’s new economic frontier: our oceans

As the world's land-based economies struggle with around 2% GDP growth, the global marine economy – often talked about as "the blue economy" – is a bright light on the horizon.
Completed in 2009, Citi Field is the home of the New York Mets – and part of a recent wave of new ballparks. Lucas Jackson/Reuters

Stadium design: baseball’s saving grace?

TV ratings are down, but the rebirth of the ballpark could be a reason that the sport still boasts the highest total attendance of any in the world.
Happiness about a new car is relative - it depends on your expectations and on what other people have. Shutterstock/Minerva Studio

Measures of happiness tell us less than economics of unhappiness

While the economics of happiness has boomed, the economics of unhappiness has been neglected. Yet there are many objective sources of unhappiness that good economic research might tackle productively.
Zannoni’s 1771 Map of the British Isles shows the heart of the “civilised” world – at least according to Adam Smith when he was writing The Wealth of Nations. Wikimedia Commons/Geographicus Rare Antique Maps

Savage peoples: the racism of Adam Smith in Wealth of Nations

To burnish the virtues of "civilised" Europe, Adam Smith relies on a barrage of racial insults. Where did his information about the so-called "savage peoples" come from in the first place?
A fantasy about free markets in primitive society lies at the heart of Adam Smith’s wealth of nations – but did they ever exist? Steve Rhodes/Flickr

The myth that holds Adam Smith’s Wealth of Nations together

The myth that our primitive forebears were capitalists at heart is fundamental to Adam Smith's arguments in The Wealth of Nations.
Adam Smith used parables, morality tales, and canine analogies to explain his theories of economics. Kasper Flörchinger

How cute dogs help us understand Adam Smith’s ‘invisible hand’

A careful study of Adam Smith's Wealth of Nations reveals that its influence lies not in Smith’s ability to construct an argument – but in his skill as teller of tall tales.
Save or consume? Research suggests wine makes a poor financial investment. Shutterstock

Just drink it: why wine investing usually isn’t worth it

Investing in fine wines has become increasingly popular over the past few decades as many in the viticulture industry have promoted fermented grapes as a way to boost returns and diversify a portfolio…

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