economics Archives

  1. The Political Compass →

    Every four years or so, usually during presidential primary season, I visit the Political Compass website. After a short survey, the website uses your stance on various issues to mark where you stand on graph measuring economic and social beliefs. It also shows where you stand relative to various historical persons.

  2. Minimum Wage Machine →


    The minimum wage machine allows anybody to work for minimum wage. Turning the crank will yield one penny every 4.5 seconds, for $8.00 an hour, or NY state minimum wage (2014). If the participant stops turning the crank, they stop receiving money.

  3. Why Lego Is Spending Millions To Ditch Oil-Based Plastic →

    It would be exciting to see what materials they create that can used elsewhere in the world as an oil-based plastic substitute. I hope they succeed in their quest.

    Three years ago, it set the goal of finding a sustainable alternative by 2030, and quickly realized that the project would be a major challenge. “If we want to reach our ambition by 2030, we need to invest a significant amount of money,” says Trangbaek.

    The company is pouring 1 billion Danish krone, or around $150 million, into a new sustainable materials center that will open in 2016 and plans to add another 100 employees focused specifically on finding new materials for their toys and packaging. The classic bricks will likely still look and feel exactly the same when the company makes the shift; the material will still be plastic, just something that’s not made from oil.

    (via Daring Fireball)

  4. Lego Overtakes Ferrari as the World’s Most Powerful Brand →

    Never underestimate the power of a brand:

    Analysis of the world’s top brands shows Lego has replaced Ferrari as the most powerful

    On familiarity and loyalty — I suppose it helps to get them (b)locked in at an early age:

    Lego is the World’s most powerful brand. It scores highly on a wide variety of measures on Brand Finance’s Brand Strength Index such as familiarity, loyalty, promotion, staff satisfaction and corporate reputation.

    (via Brickset)

  5. The End of Guitar Center →

    I don’t know anyone that would actually be upset by this. Make sure you read the whole way through and watch the video of Guitar Center’s Times Square opening.

    Sounds to me like a business opportunity:

    when I visited the NAMM Show in Anaheim, California only days ago, I found that the overwhelming majority of industry figures with whom I spoke spent very little time or energy on the critical analysis of a firm which represents 28% of the industry, a total $2.1 billion out of $7 billion. As a result, we can assume that few people will have contingency plans for potentially disruptive scenarios resulting from Guitar Center’s fate, but that is hardly unprecedented in the history of business.

    There are some good quotes in the article but my favorite is the author’s closing statement::

    We’re all analyzing the most mundane details of the terminal symptoms of this sickness that has seized American business culture in the past twenty years. Perhaps we need to heal that disease before we can back to fun things such as playing guitar and running profitable companies.

    (via Texas Blues Alley)