Word: inflationitis
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Stay tuned for my reports from each team's venue as I rank my experiences based on quality of team, quality of stadium, and quality of fan base, using factors of my own devising. Each review will consist of a series of items that I deem a plus, minus, or...
Russia's economy - until recently one of the fastest growing in Europe - is in dire straits. In the first three months of this year, output fell by 10% compared with a year earlier. The World Bank now expects the economy to contract by around 8% for 2009 as a whole...
2. The cost: The cost of traffic congestion hit $87.2 billion in wasted fuel and lost productivity, or $750 per traveler. By contrast, the cost of congestion in 1982 was only $16.7 billion, adjusted for inflation, or $290 per person.
The antidiscretion case has been made for years with regard to Federal Reserve monetary policy. Becker's Chicago teacher Milton Friedman thought that instead of tweaking interest rates, the Fed should just automatically increase the money supply 3% to 4% a year. Measuring the money supply in an era of...
A major problem with American health care today is what policy experts call "perverse incentives." Doctors and hospitals bill insurers for every individual service - every office visit, MRI or hour of operating-room time - a "fee for service" model that drives health-care inflation by rewarding providers who order potentially...