Economics

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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.
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…
Welcome to the party: a time for giving. Frank Tasche

Priceless: the inefficient, but merry economics of Christmas

Fingers crossed, we are soon to be inundated with Christmas joy disguised as presents from our family and friends. I received my first card more than a week ago and a present – now sitting under the tree…
Are we really in charge of our own destiny? Flickr/Michael Shane

The perils of the last human: flaws in modern economics

Nietzsche’s much quoted line “God is dead” was not, as it is often presented, a statement of triumphant atheism but was a warning and a call to action. We had killed God with rationalism and science. With…
Is it economics that’s the issue with ABC cuts – and if so, what kind of economics? ABC Publicity

The economics of politics is what’s firing anger over the ABC cuts

Sometimes things that are pretty simple for most people can seriously confuse an economist. The heat over the ABC cuts is a good example of the blurry line between economics – and the economics of politics…

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