Speaker: Bob Frank

Textbook author Robert Frank will present a seminar entitled "Unsolicited Advice for the Obama Administration", it is scheduled for Monday, March 23rd tentatively at 7:30 pm. It is open to all.

Check out Bob's Crib

Credit Crisis

This is an okay visualization of the credit crisis.


The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.

Seminar: Cara McDaniel

The Economics Department Seminar Series will kick off its spring session on Friday, March 6th at 3:30 pm in room 230 Wimberly Hall. Cara McDaniel (Kenyon College) will present “Hours worked in the OECD: Driving forces and propagation mechanisms.” The seminar is open to all interested parties. We hope to see you there.

Economist Panel Inteview about the Crisis

Why We Love

Helen Fisher tells us why we love.

Autism, Vaccination and Ethical Research

This appears to be another blow for those that think there is a causal link between the two. This is sure to be a classic example of alleged unethical behavior.

THE doctor who sparked the scare over the safety of the MMR vaccine for children changed and misreported results in his research, creating the appearance of a possible link with autism, a Sunday Times investigation has found.

Confidential medical documents and interviews with witnesses have established that Andrew Wakefield manipulated patients’ data, which triggered fears that the MMR triple vaccine to protect against measles, mumps and rubella was linked to the condition.

The research was published in February 1998 in an article in The Lancet medical journal. It claimed that the families of eight out of 12 children attending a routine clinic at the hospital had blamed MMR for their autism, and said that problems came on within days of the jab. The team also claimed to have discovered a new inflammatory bowel disease underlying the children’s conditions.

However, our investigation, confirmed by evidence presented to the General Medical Council (GMC), reveals that: In most of the 12 cases, the children’s ailments as described in The Lancet were different from their hospital and GP records. Although the research paper claimed that problems came on within days of the jab, in only one case did medical records suggest this was true, and in many of the cases medical concerns had been raised before the children were vaccinated. Hospital pathologists, looking for inflammatory bowel disease, reported in the majority of cases that the gut was normal. This was then reviewed and the Lancet paper showed them as abnormal.

Tough times, new behaviors

Dr. Brooks was interviewed on WXOW about changing behaviors during this downturn.

Tough times, new behaviors

Posted: Feb 9, 2009 07:35 PM

It's no secret that we're facing tough times right now, and it seems that consumers are becoming more realistic about the future of our economy.

Consumer Greg Ives says, "I would say we're trying to save more, we're trying to not overspend. We're watching more and more where our money goes."

While President Obama's economic stimulus bill moves forward, even the President knows it will take years not months to revive consumer confidence, and when we'll see relief is anyone's guess.

UW-L Economist T.J. Brooks says, "That's the million dollar question. I think this will be the longest, deepest recession. We're already 14 months into it. Usually the average for a post WWII recession is 18 months which would suggest we're going to be done in about six months and nobody really thinks that's the case."

For some, like Rachel Kleinertz the recession isn't an immediate concern.

Rachel says, "I'm still a senior in high school so it didn't really affect me much. I'm still making the same amount of money, not really doing anything different."

But, Rachel's future does concern her...especially the job outlook when she graduates.

Rachel says, "I just want to get through college."

The Ives have two college tuition's to think about it, and they're preparing for the future by doing what they can in the present.

Bonnie Ives says, "We are really watching what we spend. More coupons and watching for sales and things like that. Today we bought a Pack 'N Play for the baby, but we didn't buy the most expensive one, things like that."

While consumers watch what they spend, they're also saving what they have.

Brooks says, "It's a combination of finding their wealth has contracted from where it was, uncertainty about what the economy holds in terms of what job prospects has certainly increased dramatically."

Brooks predicts a potential economic turn around late this year, or early in 2010.

California's Trouble

An interview about California's crisis from the Wall Street Journal.

A Comparison of Job Loss Over Time

Check out this graph for a comparison of job loss in other post WWII recessions.

Is the Stimulus Plan "Macho"?

Check out this short piece in Slate by Jennifer Barret* that refers to several other articles questioning whether or not the stimulus plan could also achieve an ancillary goal: gender equality in the workplace.

Linda Hirshman [in her New York times editorial, "Where are the jobs for women?" asked of the 3.5 million jobs promised by the rescue package. Why not add more in female-friendly fields like child care, education, and social services, asked Barbara Bergmann, vice chair of the Economists' Policy Group for Women's Issues, in an open letter to President Obama that has garnered more than 600 signatures.

Yes. I signed the letter. I'm a sucker for such things. If we're taking the leap into economic engineering (analogous to social engineering), why not engineer this as well?



*She excitedly and mistakenly questions: "Is the stimulus package really better for men than for women? That's what many prominent feminists, and even some male economists, are saying." with a link on the "male economists" to an article by female economist, Randy Albelda... OOPS!

Craft Beer: Recession Proof?

Mike Haupert answers the question with an affirmative.

Pearl Street Brewery is getting ready for its 10th anniversary.

"Our business has grown about 30 to 40 percent in the last year," says Brewmaster Joe Katchever.

That's not something many businesses can say in this economy. But industries, like microbreweries, are booming. Economists say it's because a high-end beer is a small luxury people can justify.

"(People say) 'I can't afford the $40 bottle of whisky, but I'll go get myself a sort of "niche" beer," says UW-L Economics Professor Mike Haupert. "(They say) 'it's not the can of beer I'd get at a grocery store, but it's not going to set me back the same amount."

Which is good news for Pearl Street Brewery. They've expanded sales from the La Crosse area to all of western Wisconsin, something they credit to people thinking beer is an affordable indulgence.

"Our sales haven't really tapered off, or changed since this recession officially started, or people started talking about it at the end of the summer," Katchever says.

See the video and story here.

Tighten the ranks

In a Forbes article, William Easterly acknowledges that during a crisis, economists revert back to the basics (at least in the development field). See his article here.

Visualizing Store Openings

A dynamic map, plotting the openings of Target and another of Walmart openings. Both chains clearly have very different geographic strategies.