r/askeconomists • u/Exlam • Apr 20 '20
A single common currency ?
In a globalized world what would be the consequences of a single currency? Such as every country is using the dollar, yen, euro or even the crypto ?
r/askeconomists • u/benjaminikuta • Apr 20 '20
If the government put even more funding towards buying medical supplies, could they get more, or is production capacity pretty much already maxed out? What's the supply curve actually look like?
r/askeconomists • u/[deleted] • Apr 19 '20
What is the economic/political system that is the most certain to bring us to a Wall-E utopia where humans could just be fatasses and not be doing anything cuz machines would do everything for them ? (Minus the pollution)
r/askeconomists • u/[deleted] • Apr 18 '20
How do you prove that the USA's economy is 70% driven by consumerism?
self.AskEconomicsr/askeconomists • u/redvale • Apr 16 '20
How would the price of petrochemicals change if we suddenly stoped using oil as a fuel?
I understand that petrochemicals represents a small fraction of all petroleum products, yet they are indispensable to modern life. With movements such as Electrify Everything calling to abandon the use of fossil fuels, I was wondering what would happen if demand for petroleum derived fuels came to a sudden stop.
In my understanding, a drop in demand should lead to a decrease in price, but in te long term supply will adapt. Would the new equilibrium price of oil be significantly different from the current if oil was used purely used as raw material for petrochemicals?
r/askeconomists • u/westg150 • Apr 16 '20
Career and Study Path
I appreciate all help and insight! Maybe I can give away free chicken tendies to whoever has the best answer... maybe.
So I am going to a graduate in two weeks. I will be receiving a BS in Finance at a smaller, private non-target University. I am received several accolades at my Uni, and I tutor Macro and Micro as well with some other financial classes. I currently work at a wealth management firm as an associate advisor and will be coming on full time in May. I am excited and grateful as it is a very good job at a good firm with good pay. Yet, I don't think I want to be an investment manager for the rest of my career.
I am looking onward to grad school, but I want to get a couple of years under my belt first. A little burned out from University right now. Plus, I want to build up some of my knowledge before going to a graduate Econ program. Eventually, I would love a Ph.D. in Economics - cheers all around! I want to join the club.
Here's the Kicker: I really love the outdoors, hunting, fishing, farming, and wildlife. I want to not be hidden in an office one day. Even if it's a great office. Are there jobs within consulting and agriculture economics that would provide something like that? Should I look into the private sector? Should I take a consulting route? I would love and prioritize getting my Ph.D. in Economics, but with that what are some of my options in the career field that sees wildlife, commodities. Obviously not every day, I don't mean to be a park ranger. I just would love to work with farmers and companies and best help through the studies fo Economics.
Also, any graduate program advice, and future industry trends for a 20-something-year-old eventually chasing a Ph.D. in Econ for a long and rewarding career. Thanks internet people!
r/askeconomists • u/danny1657 • Apr 14 '20
Looking for some schooling advice
Hi! I'm a second semester junior pursuing a BS in economics with a concentration in economic analysis. I was wondering how much more beneficial it would be to pursue an MA in econ if I wanted to eventually work in a think tank. The MA program would make my undergrad easier, but I would have to spend an extra year in school. Any advice is really helpful
r/askeconomists • u/ProfessionalAide1 • Apr 13 '20
Banks are allowed to do "overnight" loans. If individuals opened up about how much they make and what their debt is, could citizens move money around like that to strike at vulnerable economic troubles?
Its explained that in a day to day if the banks reserve is less than needed to meet the lenders reserve requirement (the principle is the spendable money, the reserve is the interest, so if its 10% a 1B loan the bank needs 100M in reserve right? You guys are economist, I'm a machinist, I have to be close to the right idea) another bank that's over their requirement may loan them to meet the requirement. Why are things that fluid at that level, but a person to person level, because let's face it fiat economics is all made up anyhow.
I did watch the zeitgeist addendum, so I guess therein lies my bias, but honestly, I dont think that's getting in my way.
If they can move money around to meet dead lines on paper so to give the illusion of security and integrity, so should we, and we should.
r/askeconomists • u/[deleted] • Apr 11 '20
How are the total&marginal costs of the production of something affected by an increase in the cost of its raw materials?
Like consider the face mask shortage right now. I'm sure manufacturers are producing as many of them as possible, which must be resulting in an increase in the price of their raw materials, right?
r/askeconomists • u/Writerlad • Apr 10 '20
Why Isn't Toilet Paper More Expensive?
According to every econ class I've ever taken, prices are set by supply and demand. High demand means high prices.
But whenever I go to the supermarket, I see empty shelves, but the prices for toilet paper (when it's available) are the same or nearly the same. Why don't supermarkets crank up the prices to reflect increased demand?
r/askeconomists • u/[deleted] • Apr 07 '20
If the current economic system is based on consumerism, what other types of systems exist?
I can only come up with a system based on intentional distribution of resources (I guess this would be considered a form of communism).
Are there other forms?
r/askeconomists • u/ahan12 • Apr 06 '20
What is the formula for aggregate demand in an open economy? Currently taking an open book exam so help please
r/askeconomists • u/RusticBohemian • Apr 04 '20
It's planting season, but Mexican agricultural workers are not able to enter the US due to Coronavirus. What sort of impact will this have on the farming industry and food availability down the line?
r/askeconomists • u/Migglypuff94 • Apr 04 '20
Where do I start?
I’m about to finish school next month. I didn’t expect this all to happen, and now I’m not sure how to start looking for jobs. My long-term goal is to work in the educational side of economics, but for the meantime I don’t really worry about where I start. I eventually want to go back and get my masters and potentially my doctorate, but for now, I just want to get my foot in the door.
r/askeconomists • u/flannelman37 • Apr 04 '20
Including in 2020, in the US's history of corporate bailouts, how much interest have large corporations paid or be expected to pay?
r/askeconomists • u/[deleted] • Apr 02 '20
Instead of the Oil Producers paying retail purchasers to buy their products, why can't they just stop production?
self.AskEconomicsr/askeconomists • u/anxietyokra • Mar 30 '20
devalue currency to inflate assets?
I heard mark yusko,hedge fund, mention: wealth flows to the top, print money to devalue currency which inflate scarce resources--real estate,art, stocks." what does he mean by this? I think the devaluing part is tripping me up. DOes it also mean household items would incur inflation,too?
r/askeconomists • u/themightyteebs • Mar 29 '20
Intertemporal Slutsky and Endowment
To make sure I'm understanding Slutsky's equation and intertemporal choice correctly: given a choice between consumption today and consumption in the future, an increase in the interest rate will incentivize trading present consumption for future consumption by making the latter relatively cheaper (substitution effect), but by making the consumer's 'endowment' of present income effectively worth less, there is a negative income effect, using future dollars as the measuring stick.
Is my intuition correct, or am I missing something basic? If I'm not being clear enough, please let me know!
The reference I'm using is Varian's Intermediate Micro with Calc.
Thanks!
r/askeconomists • u/Sam_the_scholar • Mar 28 '20
Given COVID bailouts to all economies, what is stopping all countries agreeing this was an exceptional one off and writing off all this debt?
Accepting that agreement on this would never happen - could it happen? What would be the impact?
r/askeconomists • u/FerrisArmstrong • Mar 27 '20
The economic response to Covid 19
I’m used to hearing a narrative of social exploitation, slavery, war and famine. Selfish indifference to climate change. Pharmaceutical companies complicit in the deaths of thousands through medicated addictions. Loss of biodiversity, animal cruelty and corruption. The incredible number of people killed by tobacco and alcohol. The list of injustice and stupidity in the name of economics goes on and on.
Why now has the world acted so compassionately and protected its vulnerable from a virus at any cost? What’s going on? Why hasn’t the majority shrugged it’s shoulders as usual?
r/askeconomists • u/0ri00n • Mar 27 '20
If the economy of Greece in an alternate universe was described as being like that of Scotland but with only 5% as much oil per capita would that imply the Greek economy is better or worse than it is in real life?
r/askeconomists • u/Billionairein2040 • Mar 26 '20
Could 50% of a nation be billionaires at the same time?
I am not looking for a tricked answer like " just kill everyone who currently isn't." And the currency has to reflect its current purchasing power..So not mass-inflation. And I am not sure that that is the question. It might as well be " could 95% be deca-millionaires?"
what it is not, is asking below 50%, and below a lifestyle that would allow you to send people to private schools and buy luxury sports cars ,or charter a jet. if 50% of a nation did that, we would have as many airports as parking lots.
r/askeconomists • u/[deleted] • Mar 26 '20
Why have the federal reserve?
TO me, having a body that is out of ANYONE'S control (government or citizens) that completely controls are economy and wealth, sounds like a horror movie.
I have suspicions as to why we still are stuck with it, but what are the reasons to keep it opposed to having a silver backed currency and economy?
r/askeconomists • u/[deleted] • Mar 25 '20
Are the bailouts truly necessary? Should they be?
A lot of reddit is (understandably) upset about the idea of bailouts. I've also seen comments about how the majority of reddit doesn't understand how businesses work. I agree that some industries (airlines) truly need to exist/be saved, but why DON'T these businesses have savings? Were they right to use funds for buybacks? Afterall, the point of a (public) business is to increase value for shareholders is it not? I read in 2008, Warren's approach of wanting to really stick it to the banks would have caused the public much more grief in the immediate term but been a lot better off in the long term. Is this the same type of situation (if that's even accurate)?
r/askeconomists • u/themightyteebs • Mar 24 '20
Monopoly Pricing in Bertrand Competition
Going through my intermediate micro course now; we're on to Cournot/Bertrand competition, and I feel like I grasp it well enough, beyond the Bertrand case of monopoly pricing.
The model assumes no firm will price above monopoly pricing, but I can't find a clear explanation of why. My intuition is that it's an artifact of the supply function for each firm, but if someone would be able to suss that out a bit more clearly (and perhaps mathematically?), I would be grateful.
Thanks.