Anna Grace Votteler – Period 2 People make mistakes. They make choices that may have been intended to produce a certain outcome, yet throw them down a completely different set of stairs. In Naked Economics, Charles Wheelan paints a picture of how the law of unintended consequences functions, giving inadvertent incentives that are created when … Continue reading
Kennedi Stewart-Honorbound What is an externality? Well according to Charles Wheelan, an externality is “the private costs of my behavior are different from the social costs” [1] or in other words it’s a consequence of a person’s action experienced by unrelated third parties. The unrelated “third parties” are not a part of the initial transaction … Continue reading
Andrea Martinez – Honorbound The year of 2016 is an election year bringing in new candidates for presidency with new policies they want to propose and put into action. One candidate in particular seems to bring up some economic proposals that will result in a more isolated U.S. economy and a raise in corporation economic … Continue reading
by Sarah Panikkacherry – Honorbound Scanning my surroundings from the fast-moving cab I watched as luscious Jamaican trees turned into construction sites for future tourist attractions. My cab driver sighed, “Just five years ago, all of these buildings weren’t here – all just nature. A nice boost for tourism which helps the economy, I guess.” … Continue reading
Isabel Trevino-Honorbound Life is complicated and unpredictable. Every decision an individual makes has a cost to society, which ultimately makes life better or worse for oneself. Living a better, happier, and less complicated life is centered on the decisions to maximize one’s utility. The author of Naked Economics, Charles Wheelan, said that, “Individuals act to … Continue reading
Gretchen Maddock – Honorbound Overconsumption of natural resources, as most of us are aware, is an issue America is facing today. We, as a wealthy country, should be able to pay for the “luxury good” of environmental protection. “Americans are willing to spend more money to protect the environment as a fraction of their incomes”, … Continue reading
Derrian Thompson- Honorbound The sex industry is well known all over the world and considered a dangerous and corrupt industry but still the demand for it is always present. Women who enter this industry are typically very young and come from very unstable backgrounds making them targets to older men who are looking to sell … Continue reading
Triana Gorman- Theoretically, a market can exist without any monopolistic traces. In this “perfect” market, numerous buyers shop with full-knowledge at a multitude of markets selling the exact same product for relatively the same price. These markets enter and exit the competition sans barriers. This market structure is called perfect competition. Despite being a real … Continue reading
The police department has been present in the United States for more than 100 years to protect American citizens by ensuring that all laws are followed. Police officers work with that incentive in mind, to protect the American people. The issue is some people believe officers are not cracking down on crime as much as … Continue reading
Alex Arenas HB- When I tell people that I am Colombian, they tend to look at me wide-eyed with thoughts of unruly drug cartels and merciless kidnappings.Since the 1970’s, Colombia has been home to some of the most violent and sophisticated drug trafficking organizations to ever exist. In the last thirty years, the drug industry … Continue reading
Bear Market 