Archive for December 29th, 2015

Let’s downgrade comparative advantage from our list of key concepts in economics..

December 29, 2015

Prof. Michael Munger of Duke Univ says so in this article.

He says the real deal is division of labour. The old idea of comparative adv had a notion of fixedness to it. But comparative advantage is a dynamic concept and keeps changing:

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Should Fed start its own Fedcoin?

December 29, 2015

St. Louis Fed Vice President David Andolfatto makes a case for Fed starting its own bitcoin variant  called Fedcoin.

He says the bitcoin idea is exciting as it helps make payments much faster. The disadv is its volatility:

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