The Economics of Johnny Manziel

19Oct

Johnny Manziel was recently accused of signing autographs for monetary compensation. For someone who brings in millions of dollars to Texas A&M, athletic brands, and television stations, it seems odd that he can't sign even an autograph for money. The restrictions on compensating college athletes tends to be supported by the intention of keeping the players students first and athletes second. In a multi-billion dollar industry it appears somewhat unfair that the actual players are the only ones not getting paid wages. But how would ending restrictions on wages and endorsements affect the sports, universities, other athletic programs, and professional leagues?

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The Tax to Save the World

1Oct

The political atmosphere surrounding climate change is often excruciating to bear; scientists keep offering dire warnings but politicians can't seem to agree on what to do, if anything. Governments can try tactics like capping total emissions, investing in alternative fuels, or mandating specific fuel efficiencies. But none of these has seemed to work thus far. Economic theory suggests we can shift the behaviors of consumers and firms to account for the negative effects of carbon by making its use more expensive. Would this "carbon tax" be any more politically feasible than the other alternatives? Will it be too much of a burden? Can we trust the government to implement it? Find out the dirt on carbon taxes and how it stacks up against other efforts to battle climate change.

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Corn Subsidies: Powerful Special Interests or Worthwhile Support?

10Sep

Subsidies to corn have two intentions: support American farmers from volatility and foreign competition, and promote the use of corn ethanol as an alternative fuel. But research shows that the supposed gains from subsidizing corn don't add up; there is little evidence that farmers couldn't sustain themselves without the subsidies, and corn ethanol does very little for the environment and energy independence even under the most promising estimates. If this is the case, why do we keep putting billions of taxpayer dollars into these programs? Lend us your ears and see what's really going on behind the scenes of corn subsidies in America.

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Internships: Valuable Experiences or Perpetuators of Inequality?

1Sep

Internships can be a valuable stepping stone for an individual looking to get their foot in the door or try out a certain professional environment. Companies can use internships as a trial period to see the goodness of fit for a potential future employee. That many internships are low-paid or unpaid means access is restricted to those who are able to work for low wages. With surprising and loosely enforced laws about what constitutes an "intern," do we need to rethink internships before they simply become another way to disenfranchise lower-income students?

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Prostitution: Policy Options for Reform

21Aug

Prostitution is illegal in the United States and most countries around the world but this hasn't caused the market for sex to disappear. Instead, like in any black market, criminalization drives the industry underground where contracts can't be enforced and the parties involved have few means to ensure their safety. Perhaps the primary concern should be making sure the workers and customers are protected. In that case, what can we learn about the experiences of different developed countries to see what the ideal policies are for America?

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The Economics of Sleep

15Aug

Economic methodology is usually used to predict things like an individual's likely income, life expectancy, or expected happiness based on variables like gender, race, years of schooling, religion, or profession. These same techniques can be used to predict how much an individual will sleep. Even though sleep is a non-market activity, we can think of it as one of many different options of what an individual can do in the limited 24 hours a day. We explore what research predicts about sleep patterns based on different demographic variables.

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Sweatshops: Exploitation or a Step Towards Industrialization?

24Jul

Sweatshops in many ways epitomize the perceived evils of globalization: Multi-national corporations in developed countries use extremely cheap labor in harsh working conditions to produce goods the workers can't even afford. What can consumers in developed countries do to help? Do we have an incomplete view of sweatshops? We discuss the effects of anti-sweatshop efforts and talk about sweatshops' role economically for developing countries historically and today.

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