March Madness and the Economics of College Athletics

Source: Flikr Creative Commons I just read a nice article on the economic impact of March Madness by Simon Ogus. He goes through the effects on host cities, the TV revenue generated, and the money that flows to schools, conferences and the NCAA. I’m a strong believer in separating big-time athletics from colleges and universities. I used to be ambivalent, but that was before I read Taylor … [Read more...]

Inflation! Debasement!

Hyperinflation-era German currency Source: Flikr Creative Commons The latest Consumer Price Index (CPI) data came out today.  Inflation is low by any standard: 1 percent per year for all items in the CPI, 2.3 percent when we exclude energy and food from the index. A colleague and I have a running joke when these numbers appear.  Either by email or in person, we … [Read more...]

What’s up with the labor market?

The latest numbers for the national labor market came out this morning and they look good.  The headline figures: 4.9 percent unemployment and 242,000 jobs created in February. There’s lot of detail that gets overlooked in the headlines, so let’s take a look at a couple additional measures; the complete release is available here. Headline unemployment versus other measures  (click to … [Read more...]