Freakonomics

Recent news stories suggest that the legal profession is reacting to the fact that the law school bubble has popped. I have previously discussed how the law school bubble is a subset of the higher education bubble. In this way, unlike a bubble in real estate, dot-coms, or tulips, the law school...

"They that are discontented under monarchy call it tyranny, and they that are displeased with aristocracy call it oligarchy; so also, they which find themselves grieved under a democracy call it anarchy." ~Thomas Hobbes In the 17th century, the English philosopher Thomas Hobbes wrote of the...

Income inequality has become a hot issue in the current political debate, but what does income inequality really portend for the future?MarketWatch's Darrell Delamaide had an article Wednesday arguing that the issue of income inequality in the American political debate is not going away anytime...

While the US unemployment rate for November unexpectedly fell to 8.6 percent from 9 percent in October, recent jobs numbers may reflect deeper systemic problems in the nation with respect to labor and economic activity. According to the Los Angeles Times, "economists viewed the latest jobs report...

The fact that the shadow economy, or the black market or underground economy, is on the rise in the middle of a global financial crisis should be no surprise to economists.A recent post on Steven Levitt and Stephen Dubner's Freakonomics blog discussed the growth of the shadow economy across the...