Category Everyday economics
Presidents: do you get what you pay for?
In 1915, Woodrow Wilson earned $75,000 per year, or $1.9 million in 2018 dollars, for serving as President of the United States. The current incumbent of that office receives only a fraction of that amount: $400,000 annually. Congress has increased the presidential salary three times in the past 100 years: raising it to $100,000 in […]
Pain, brioche, and the language of taxation
Ireland's Supreme Court recently ruled that the buns Subway uses in its sandwiches contain too much sugar to be considered "bread", and are thus subject to Value Added Tax (VAT). The decision lead to headlines and discussion along the lines of "Irish High Court Rules Subway’s Sandwich Bread Is Not Legally Bread" or "Ireland declares […]
Can you be confident about an economy you can’t see?
Canada's economy may be on life support, but it is still hanging on. Even on streets that seem empty and shuttered, there are a few businesses getting by, or even thriving. The bookstore on Beechwood Avenue looks closed, but every so often a customer pops by to pick up an order from the bookrack hidden […]
The behavioural economics of the Marie Kondo method
Marie Kondo is the guru behind the best-selling Life-Changing Magic of Tidying Up and Spark Joy. For some people, like me, her method works. One possible reason for its success is that, underneath it all, there are some sound behavioural economics principles. 1. Shift the reference point Marie Kondo recommends dividing one's possessions into five categories […]
Does (cohort) size matter?
In the US, the portion of young men between the ages of 18 to 34 who report having at least one partner has fallen substantially in recent years (sorry for the small image size): Charts similar to the one above have prompted talk of a sex recession. Yet worries that Millennials are killing sex (as […]
Robinson Crusoe and the Carbon Tax Rebate
Suppose I impose a carbon tax on Robinson Crusoe. But I give him a rebate exactly equal to the tax he pays. That tax plus rebate will have no effect on Robinson Crusoe's behaviour. He knows that if he cuts carbon by 1kg, and pays $1 less tax, his rebate also falls by $1, so […]
The Federal Debt of the United States, 1791 to 2018: A Presidential Ranking
A recent story in the National Post by Tristan Hopper highlighted the “utterly unbelievable scale” of current US federal public debt levels. As is always the case, it is useful to get some historical perspective on the evolution of the U.S. federal debt over time – which under President Trump has become the biggest U.S. […]
The Meaning of Life, Labour Supply, and all that
Here are the results of my Twitter poll: This post is my interpretation of those results. I recognise all the usual caveats. I am more concerned about bias in the sampling method than in the small size of the sample (because it's not that small). The people who follow me on Twitter (or who follow […]
The macroeconomics of Stanley Cup dynasties
This post was written by Davin Raiha at the Ivey Business School. As the NHL playoffs inch closer to the Stanley Cup, it is an appropriate time to reflect on how economic conditions and forces have impacted competition within the NHL over the past few season. A few seasons ago – specifically during the 2015 […]
Some basic facts about the distribution of sex
The Canadian Community Health Survey is an annual voluntary survey, carried out by Statistics Canada, that collects information about a wide range of health outcomes and risk factors. As part of the 2013-14 survey, 47,764 Canadians between the ages of 15 and 49 were asked about their sexual activity – whether or not they have […]
Worthwhile Canadian Initiative 
Recent Comments