About Economics: Weekly Update (Vol. 6, No. 22)

	Economics

In the Spotlight | More Topics |

	from Mike Moffatt Another week of high oil prices. It doesn't look like they're going to go down significantly any time soon. It looks like the Forex market is starting to believe prices will stay high for awhile as the Canadian dollar has been steadily climbing for the last two weeks.
In the Spotlight

Are Economists Unreasonable About Free Trade? A great debate between Robert Driskill - Why Do Economists Make Such Dismal Arguments About Trade? and Greg Mankiw - On The Case For Free Trade. Both pieces are hilighly recommended, along with Anti-Dismal's summary of points made by Mankiw, Driskill, Steven Landsburg and Tim Worstall. I am a lot less of a "free trade evangelist" than I was 5 years ago. However, my difficulty with free trade differ greatly from Driskill's. Two major points:             More Topics Information on Interest Rates Exchange Rates Money & Monetary Policy Resources Economics Term Paper Resources Inflation and Deflation Microeconomics Help Econometrics Help The Problem With Pigouvian Taxes A post on the Tax Policy Blog hilights what I believe to be the biggest drawback to Pigouvian taxes: UCLA Law Professor Eugene Volokh explains why California's proposed 25% tax on pornography is likely unconstitutional: Content-based taxes on the sale of First-Amendment-protected materials (and recall that the law targets not just unprotected and illegal obscenity, but also constitutionally protected pornography) are generally forbidden[....]   Supply Shocks, Demand Shocks and the AD/AS Model We teach at AD-AS (aggregate demand/aggregate supply) model in economics-based courses at Ivey, despite the fact that not everyone is a fan of the model. The model does have strengths in understanding macroeconomic phenomenon. This article in the Wall Street Journal would make for the basis of a terrific test question:     Sponsored Links   Just for Grads Gifts & Celebrations for Graduates Get tips on celebrating the graduate in your life, from party planning to smart gifts and fun gadgets.

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