Some Recent Comments on the NY Times Webpage
For those professors starting to write economics final exams, I suggest that you post the following two comments that were posted on the NY Times webpage. Ask your students for an evaluation of the logic behind each of them.
Different Cities Adjust to Inflows of Chinese Tourists and Doctors Bowling with Ebola Symptoms
In the year 2015, our cities are increasingly safe, clean and green. Yet, the NY Times points out new challenges that cities around the world now face. Example #1 is Jeju, South Korea.
How Will the World Cup in Qatar Adapt to Climate Change?
The 2022 World Cup will be played in Qatar. The NY Times reports that Qatar is hot during the summer. Anticipating that soccer players are less productive running around in 115 degree heat for 90 minutes, there is now a proposal to move the World Cup to the cooler months of November and December.
Why Isn't the USA an Energy Research Leader?
The NY Times asks a good question related to basic energy research.
An Economic Analysis of Superbugs and Optimal Equipment Reuse
The Times reports the sad and scary case of the spread of a superbug at UCLA as an invasive piece of medical equipment was used on multiple patients without being properly sterilized after each use.
Micro Apartments in NYC
I learned a piece of algebra recently. Did you know that rent per month = ($/sqft)*sqft? Where "sqft" = square feet of the apartment and $/sqft = price per square foot. In major coastal cities, price per square foot continues to rise. This is caused by both supply and demand forces.
How Will NYC Adapt to Sea Level Rise?
Citylab reports some great stuff in this blog post. Such information plays the same role as Paul Revere did a long time ago. Now that we know that coastal Manhattan has a problem, the efficient markets hypothesis makes some testable predictions about how asset prices will adjust.
How is Bangladesh Adapting to Increased Flood Risk?
Optimists of the world unite. While this piece does not discuss the cost of constructing and operating floating schools, it demonstrates the power of the Climatopolis Two Step; Anticipate a challenge and invest accordingly.
Are Low Gas Prices Good or Bad?
Michael Greenstone has a nice quote on Marketplace making the green case for raising gas taxes now. At the same time, the NY Times recently reported that Ragu Rajan is celebrating that importer India is now paying low gas prices.
The Make vs. Buy Decision: How the LA Super-Rich Avoid the 99%
The NY Times engages in the guilty pleasure of checking out how my Bel-Air neighbors live in their 40,000 square foot homes. This is "50 Shades of Green". One quote from the piece caught my eye;
"Mr. Landry learned how to design for the special needs of the rich and famous.
Anticipating the Impacts of Climate Change on Massachusetts
This is a useful new report that anticipates how climate change will impact Massachusetts. The most novel predicted impact relates to the future of the state's cranberry production.
Improvements in Quality of Life While You Are Hospitalized
The NY Times reports that Harvard and Yale Hospitals have figured out that hospitalized people enjoy sleeping through the night rather than being woken up every couple of hours to be poked and probed! While it is amazing that it took these great hospitals 100 years to figure this out, note that c
Econ 101 Lessons: Raise Water Prices in Drought Stricken Sao Paulo Brazil
The New York Times has published a long article about water shortages in one of Brazil's major cities but never mentions what is the current price of water nor does it ponder what is the price elasticity of demand for water. This direct quote suggests that the price of water is extremely cheap.
How Will Miami Adapt to Sea Level Rise?
Miami will adapt to sea level rise by anticipating the challenge. Such a challenge creates opportunities for the next generation of architects.
Wacky Weather and Lost Consumer Surplus in Boston
Boston has been hit with several recent blizzards. How would an economist measure the aggregate damage caused by these storms? Recall from intermediate micro the concept of an expenditure function.
The Secret to Living to Age 115 is Raw Eggs and Avoiding Men
I turn 49 soon so this article profiling Emma Morano's life caught my eye. She is 115 years old and has lived during 3 different centuries! She even has a causal theory for explaining her long life; a raw egg diet and no husband. A quote from the article:
"Ms.
"Contrarian Scientists"?
Justin Gillis expands his readers' vocabulary by introducing the term "contrarian scientists" in describing perceptions of climate change's future impact. Here is the definition; "Contrarian scientists ...
Is Climate Change a Greater Threat than Terrorism? An Economic Analysis
While I agree with President Obama that climate change is a bigger threat than terrorism, I would encourage him to read my paper on this subject. My paper is titled; Urban adaptation to low-probability shocks: contrasting terrorism and natural disaster risk" and you can download it here.
An Economic Analysis of Two Quotes from Progressive Intellectuals
I'm an economist with a passing interest in persuasion. So, I read the NY Times Opinion page to try to learn some new ideas and to learn about how the NY Times tries to persuade the select set of people who read its weighty stuff.
Peltzman Revisited: Why Don't Downhill Skiers Use Airbags?
The NY Times reports the puzzle that competitive downhill skiers such as Bode Miller could protect themselves if they adopt a new "air bag" but few are using them. One theory is that these protective devices are heavy and uncomfortable and thus lower the probability of winning any given race.
Will Universities Lower their Endowments by Dis-Investing from Fossil Fuel Companies?
Young people want a free lunch. A benefit of aging is the wisdom of finally understanding the tradeoffs that we must reckon with (the one's your Econ 101 Prof droned on about). Consider the case of University divestment from fossil fuel companies.
Should Econ 101 Be a Required Course at Every University?
Econ 101 continues to be a very popular course at Harvard. I expect that Prof. Mankiw does a great job teaching and he must be familiar with the textbook he has selected for the course.
Playa Vista: New Urban Living in Los Angeles
Before Superbowl Sunday, I took 25 sleepy UCLA freshmen on a field trip to see the Playa Vista community located just north of LAX, 2 miles from the beach and just south of Marina Del Ray and Venice. This was my 2nd trip there and I'm still a big fan of the entire project.
Introducing "Economy Plus" Seating at Public Universities
United Airlines is earning some extra revenue selling economy plus tickets on airplanes. Such seats cost roughly 20% more but offer more legroom and early boarding on the airplane.
