The short third installment of Yoram Bauman's vlog from China is well worth the watching, highlighting the tension between the "official" China and what's really going on there. Communist Party founder Mao AND $300,000 Porsche's? Yoram asks. "Do…

The short third installment of Yoram Bauman's vlog from China is well worth the watching, highlighting the tension between the "official" China and what's really going on there. Communist Party founder Mao AND $300,000 Porsches? Yoram asks. "Do…

Paul Solman answers questions from NewsHour viewers and web users on business and economic news most days on his Making Sen$e page. Here are a few queries: // We received a flurry of worried responses to our…

Jul 11

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'Have Wit, Will Travel'

Economics was dubbed "the dismal science" by 19th century English intellectual Thomas Carlyle. The reason: the Reverend Thomas Malthus' grim prediction, around 1800, that population would inevitably outstrip food supply, since the former grows geometrically (1,2,4,8...), the latter, arithmetically (1,2,3,4...).