A classic essay for political economy students is "I, Pencil," an account of the creation of a common pencil that illustrates the power of division of labor and increasing returns from open trade. The BBC has offered us a 21st-century update of the story: they're following a shipping container for a year (via GPS) as a way to tell the story of modern globalization. The container is currently in Shanghai, having just dropped off a bunch of Scotch whisky from the U.K. and picked up clothing on its way to the U.S.
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- Ending the Food Crisis
- Graduating Soon?
- Tyler Cowen on Fiscal Stimulus
- Latin America and the Financial Crisis
- Back to the Fore: Latin America
- Another Data Point
- Gallows Humor
- Am I Freaked Out?
- (Not Snarky) Response to Comments
- US Dominance - Fading away?
- Word of the Week: Deflation
- Department of Ut-Oh (a continuing series)
- When You Wish Upon a Star...
- Which Do You Want First?
- The Crisis from an Historian's Perspective
- The Return of Capital Controls
- Viking Solidarity...
- Blaming the Victims?
- G20 Results
- What do Summiters Eat?
- Two quick reads...
- Problems, Proposals, and Positions
- ...and this is my other brother Darryl
- How Many Jobs at Risk?
- What's Good for GM is Good for America, Right?
- Quid Pro Quo
- Tourism Trouble in the Caribbean?
- Paging Naomi Klein
- Gulliver and the Lilliputians
- "The Box": The New Pencil
- New Macroeconomics: Same As Old Macroeconomics
- Jeffrey Sachs on a New Macroeconomics
- Recession's Biggest Winner: Walmart?!
- The Election
- It's the Economy, Stupid (Really, it is)
- Vote at Your Own Risk
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