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Freakonomics Blog

From MTV to the Stanky Legg

YouTube may become the digital generation’s replacement for MTV, reports NPR’s All Things Considered, as musical artists use it as a cheaper way to be discovered, promote their albums, and post music videos that would never have made the cut at MTV. Getting a video noticed on YouTube, meanwhile, requires a different set of “tricks” than MTV, which may produce a new generation of videos that forgo bling and fancy production for dance crazes and badly shot paparazzi videos.


Fantasy Stocks

For those who are still too scared to invest in the stock market, you can buy some imaginary stock at UpDown, a “practice investing” site that simulates the stock market and lists real-life companies without meting out real-life consequences.


Why Are Kiwis So Cheap?

I’ve been eating a lot of kiwis lately. At the corner deli near my home, I can buy three for $1. They are delicious. Unless the stickers are lying, they come from New Zealand. At 33 cents apiece, a New Zealand kiwi costs less than the price of mailing a letter to the East Side. (And believe me, I consider a first-class stamp one of the greatest bargains ever.) How on earth can it cost so little to grow, pick, pack, and ship a piece of fruit across the world?


Another Upside to the Down Economy

Good news: people who still have jobs are having a much easier time driving to work. Traffic congestion is down as much as 30 percent in 99 of the country’s 100 largest metro areas. In Washington, D.C., famous for gridlock of all kinds, traffic has fallen 24 percent during rush hour. San Francisco saw travel times fall 12 percent this . . .


Co-Compensation

Economists spend immense amounts of time ranking journals, partly to decide on monetary and non-monetary professional rewards, partly as pure gossip. There is some imperfect agreement on rankings.
Given that agreement, how should we credit coauthored publications (the overwhelming majority of papers)?


A Really Hard Day's Work

Ulet Ifansasti’s stunning photographs depict working conditions at a primitive sulfur mining site in East Java, Indonesia. The miners use steel bars to hack off chunks of pure sulfur and carry loads of 100 to 200 pounds to the weighing station, making several trips a day. Daily pay is approximately $5.00.


Let's Hope They're Not Swan Songs

Even in the days of Woodward and Bernstein, writes Mark Kemp in Paste magazine, print journalism “wasn’t ever entirely noble” — but today, it’s “crumbling faster than week-old bread.” With “fond memories” of what the newspaper industry once was, and hope that it has a future, Kemp put together a list of the top 10 songs about newspapers and journalism.


The Cleaners

Vanity Fair and Bloomberg hosted an economic panel last week featuring Meredith Whitney, Joseph E. Stiglitz, Olivier Sarkozy, Austan Goolsbee, and Jack Welch. The heavyweight panelists debated unions, the Obama administration’s stimulus package, health care, and the banking system.


Buy an S.U.V., Save the Planet

Scientists and engineers are racing to develop technologies that will improve fuel economy and perhaps replace gasoline altogether. This is certainly to be applauded. But there may be an easier and more effective way to help wean ourselves off foreign oil and fight global warming. Interestingly, it involves not 21st-century technology but 28th-century technology — as in 28th-century B.C.E.
What’s better, it will enable us to shed the pounds with comparatively little diet or exercise. We can improve fuel economy not through the onerous task of developing next-generation lithium-ion batteries but simply by getting people behind the wheels of S.U.V.’s. How?


Coming Soon to a Multiplex Near You?

You know that sensation when you’re reading an article in your morning newspaper and, about three grafs in, you start imagining the movie version and you can practically hear the Hollywood studios scrambling to get hold of the writer and the subject in order to lock up their life rights?


Surprising Facts About Child Soldiers

The problem of children used as soldiers has been gaining visibility since, among other things, former child soldier Ishmael Beah published his memoir. But the image of the child soldier as a young African boy with an assault rifle slung over his shoulder isn’t as descriptive of the problem as you might think.


The Price of Marriage

While no longer relevant today, one might think that raising the price of marriage licenses could have the beneficial effect of deterring spur-of-the-moment marriages. Of course, like so many restrictions, it might also have a negative unintended consequence: it might increase the number of out-of-wedlock births.


Another Perspective on the Human Development Index

A few days back I wrote a post claiming that “for all the work that goes into the Human Development Index, it just doesn’t tell you much that you wouldn’t learn from simple comparisons of G.D.P. per capita.” Subsequently Francisco Rodriguez, who heads research at the UN Human Development Report Office touched base to tell me that he thought I hadn’t told the whole story. Francisco is a terrific macroeconomist (in fact, he was the TA when I took my graduate macro classes at Harvard), and so he kindly agreed to write a guest post filling in the missing pieces.


Auction Aversion

David Warsh reflects on the advances of auction technology and market design since the first high-tech auction was held by the Federal Communications Commission in 1994. Warsh points out that despite the recent growth of auctions in private markets and the well-established benefits of auctions, industry continues to vigorously oppose government auctions. Auctions of landing slots at New York airports, toxic bank assets, and carbon emission permits have all been opposed by industry groups precisely because of their price-discovering power. Warsh, however, is hopeful about the future. “As principles of market design become more thoroughly articulated and widely understood,” he writes, “the sphere of governmental discretion will shrink.”


The Opposite of Repugnance

Now, on his Market Design blog, Al Roth writes about something that’s perhaps even more interesting: the opposite of repugnance. Or, as he puts it, “transactions that, as a society, we often seek to promote, for reasons other than efficiency or pure political expediency.”


A Neverending Economics Lecture

A site called Work and Wealth for All offers free access to an extensive library of podcasts on economics, Social Security, and public policy, delivered by some of the best-known economists on the planet. The site also features commentary and analysis from a number of economically inclined outlets like The Economist, The Financial Times, and The Wall Street Journal. All in all, a good place to bone up on actual economics (as opposed to, i.e., a site like ours).


Reader Advice Needed: What Would You Do With a $200,000 Crystal Decanter?

The Smile Train is one of my favorite charities. Combining insightful business-oriented thinking with an unquenchable thirst for helping children born with clefts, in just ten years the Smile Train has completely transformed the lives of over 500,000 people via a simple 45 minute operation.
The Smile Train has a “problem.” It’s a long story, but here is the abbreviated version. Bacardi, the makers of Bombay Sapphire Gin, got together with crystal maker Baccarat, Garrard the jeweler, and designer Karim Rashid, to produce five “priceless” handmade crystal decanters.


A Profitable Divorce

Continental Airlines is suing nine of its pilots, reports ABC News, claiming they faked divorces in order to draw down their pension funds before retirement. The airline became suspicious when some of the couples continued living together and all nine couples eventually reunited. Continental believes the pilots became worried about the safety of their pension funds, especially after seeing what’s happening at other airlines.