When purchasing holiday gifts for your friends and family, is it really the thought that counts? Some economists argue that spending money on presents that don’t produce the same amount of satisfaction from the receiver is a dead weight loss. Paul Solman explores this grinchy economic perspective on the holiday shopping season. Continue reading
Yale University professor Robert Shiller was one of three Americans honored with the Nobel Prize for Economics for research on how financial markets work and how assets, like stocks, are priced. Economics correspondent Paul Solman sits down with Shiller to discuss the award, irrational exuberance and the global housing market. Continue reading
Video by NYC Media Lab The weather can influence our decisions as consumers. Cold weather could compel you to purchase a new coat, while warmer temperatures might encourage you to skip the hot tea. The influence of weather on our … Continue reading
The first Thanksgiving in Plymouth, Mass., probably didn’t resemble the modern holiday we celebrate today. Economics correspondent Paul Solman steps back in time to explore the contrasting exchange models used by Native Americans and pilgrims in 1621 and how that alters the meaning behind the first act of giving thanks. Continue reading
Photo courtesy of Andrew Harrer/Bloomberg via Getty Images There’s no shortage of measures to argue over when it comes to determining spending levels. The Congressional Budget Office on Wednesday released a report of 103 policy options that would either decrease … Continue reading
Mario Tama/Getty Images Re-elected Republican presidents have generally presided over the best stock market returns, but the first year of President Barack Obama’s second term could suspend that trend. The jump in the Standard & Poor’s 500 Index — 24 … Continue reading
RT the good news: Since 2009, we've reduced the deficit by more than half –> http://t.co/sdmyCcspIP #Progress, pic.twitter.com/6sctc86jeo — The White House (@WhiteHouse) October 30, 2013 Image courtesy of the Office of Management and Budget The federal government’s deficit declined … Continue reading
In economics news, consumer confidence dropped sharply last month due to fallout from the government shutdown. But housing prices rose at the highest rate since 2006.
In our news wrap Monday, three Americans — Lars Peter Hansen, Eugene Fama and Robert Shiller — will share the Nobel Prize for Economics for their work in explaining how stocks, bonds and housing values change over time. Also, al-Qaida leader Abu Anas al-Libi has been transported to New York to stand trial on terrorism charges. Continue reading
The AP reports on anti-counterfeiting technologies embedded in the new bank notes.