- Henry Manne, who transformed the study of Law and Economics, died. His work included such things as talking about the benefits to society from insider trading: http://spectator.org/articles/61515/henry-manne-he-was-law-economics. He also worte about managerial control and why managers have an incentive maximize shareholder wealth except for the incentive to pay themselves high salaries. http://econlog.econlib.org/archives/2015/01/henry_g_manne_r.html. For more see: http://en.wikipedia.org/wiki/Henry_Manne
- Which Economic Theories do you think are especially widely misunderstood? Compare your aswers with Tyler Cowen at: http://marginalrevolution.com/marginalrevolution/2015/01/which-economic-theories-are-especially-widely-misunderstood.html
- Chinese Growth slows to slowest rate in quarter of a century. However, this rate was still higher than the U.S. growth rate. Of course, growth was expected to slow since it is easier to grow when a country is first growing and harder when you have caught up with other countries. http://www.nytimes.com/2015/01/20/business/international/china-gdp-growth-rate-slowest-since-1990.html?ref=business&_r=0. Here is the United States Growth Rate: http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm Here is another view on the Chinese growth rate slowdown: http://www.forbes.com/sites/timworstall/2015/01/20/the-really-bad-news-about-chinas-economic-slowdown-and-growth-targets-miss/
- What are some of the effects of lower oil prices?
- A recession in Alberta Canada may be likely: http://calgaryherald.com/business/energy/economic-recession-likely-in-alberta-this-year
- BP may pay a smaller fine for the Gulf oil spill: http://www.theweek.co.uk/business/oil-price/60838/oil-price-drop-is-giant-tax-cut-for-uk-economy
- Consumers have more discretionary income compared to when prices were higher and negative effect on energy stocks. What do you think will happen to oil exporters such as Russia, Venezuela, and the Middle East? Will the countries become more unstable? For more see: http://blogs.wsj.com/briefly/2015/01/13/the-effects-of-lower-gas-prices-at-a-glance/