Archive for the Micro/Macro Chapter 1 Category

Arguing for Free Trade in a Post-Trump World

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Anti-trade and anti-globalization positions helped elect Donald Trump, and economists’ traditional arguments for free trade are being ignored. In fairness to the anti-traders, the outcomes of extended trade (especially with China) have left many workers in manufacturing worse off. In teaching about the gains from trade, how […]

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Economic Fables

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I started reading Ariel Rubinstein’s Economic Fables.  Before reading his description below of what an economic model is, keep in mind that he is one of the world’s foremost game theories, and a former President of the Econometric Society. Economic theory formulates thoughts via what we call […]

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