Author Archives: Susann Lees

When I have thought of foot-binding in the past, which wasn’t all that often, I’ve tended to view it as just one of those grim social practices, built on a mixture of social positioning and sexism, which disfigured the bodies of women. That’s not wrong, but it’s an oversimplification. Why did such a practice ariseContinue reading “Some Economics of Foot-Binding”

On November 2, 1983, President Ronald Reagan signed a law establishing a federal holiday for the birthday of Martin Luther King Jr., to be celebrated each year on the third Monday in January. As the legislation that passed Congress said: “such holiday should serve as a time for Americans to reflect on the principles ofContinue reading “Some Economics for Martin Luther King Day”

When President Trump took office January 20, 2017, I asked “What if Trump Skeptics, Like Me, Turn Out to be Wrong? I wrote then: If a Trump presidency turns out badly in various ways, then Trump skeptics like me will certainly say so. But if matters don’t go wrong, then in fairness, then it seems toContinue reading “Trump, Year Two: The Economic Record”

Depending on what exchange rate you use for comparing GDP, China either already has a larger GDP than the US (using a purchasing power parity exchange rate) or will soon have a larger GDP than the US (using a market exchange rate). Stepping outside the economic issues here to the subject of international relations, doesContinue reading “How Does China’s Higher GDP Translate into National Power?”

The Bureau of Labor Statistics writes:  “The Beveridge Curve … plots the job openings rate with respect to the unemployment rate. During an expansion, the job openings rate is high and the unemployment rate is low moving to points along the curve up and to the left. During a contraction, the job openings rate isContinue reading “What Message is the Beveridge Curve Sending?”

The “Flynn effect” refers to a pattern observed by James Flynn, a professor at the University of Otago in New Zealand. It points out that for most of the 20th century, scores on IQ tests have been rising.  The reasons behind this pattern have been a subject of controversy.  For example, are the rising IQContinue reading “The Flynn Effect (Rising IQ Scores Over Time) Reverses”

“In fact, recent public opinion polling uniformly reveals that, first, foreign trade and globalization are generally popular, and in fact more popular today than at any point in recent history; second, a substantial portion of the American electorate has no strong views on U.S. trade policy or trade agreements; third, and likely due to the previous point, pollsContinue reading “What if Most Americans Don’t Care That Deeply about Trade?”

Finding ways for people to be healthier and better-educated is both a useful goal in itself, and also an investment that increases future economic production. When I find myself worrying, as one does, that the world is falling to pieces, it’s useful to remember basic facts:  “The world is healthier and more educated than ever.Continue reading “A Global Human Capital Index”

The great utilitarian philosopher Jeremy Bentham famously argued that “it is the greatest happiness of the greatest number that is the measure of right and wrong.” This principle was revolutionary in its own way. It treated people as equal. It did not emphasize the happiness of one gender over another, or one race or religionContinue reading “Daniel Kahneman: "People Don’t Want to be Happy"”

Everyone knows the two countries in the world with the largest populations: China and India. But what countries are next on the list? The United States is third, with 331 million people. And fourth in total population is Indonesia, with 265 million people. When it comes to total size of economy, Indonesia is now aboutContinue reading “Indonesia Rising”