Naked Economics: Undressing the Dismal Science pdfdrive com

1987 crash of, 226

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1987 crash of, 226
see also Wall Street
stock options, 42–43
stocks, 156
“hot,” 168
Stolichnaya vodka, 266
stress, 207
“strict rationality,” 25
striped bass, aggregate vs. individual quotas on, 93
strip malls, 329–30
submarines, homemade, 21–22
subprime mortgages, 210
subsidies, xxii, 183–88
examples of, 183–88
market affected by, 188
success, university education and, 126–28
Sunstein, Cass, 81
“superstar” phenomenon, 15
supply and demand, 228, 230
currencies and, 251, 259
price and, 18, 133
see also demand
supply-side economics, 99–103
Supreme Court of India, 91
SUVs, 23, 57–58, 63
Swarthmore College, 127
sweatshops, Asian, 24–25, 292, 295, 296–97
Sweden, 51, 218, 327
Swedish Academy of Sciences, 110, 133–17
Switzerland, 140, 205, 316
symphony orchestras, “blind” auditions for, xxii–xxiii “systemic risk,” 331
Taiwan, 25, 146, 291, 304
talent, wealth and, 15, 132–34
tariffs, 16, 188, 268
taxes, xxii, 144, 309, 315, 332
capital gains, 99, 241
carbon, 299
on cigarettes, 62
cuts in, 99–103, 106, 214
“deadweight loss” and, 54, 97–98, 106
economy affected by, 97–103
on externalities, 62–65
on gasoline, 53, 54, 63–65
“green,” 53, 328
as incentive to reduce the taxed activity, 51–54
inflation and, 241
on junk food, 60

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on junk food, 60
lump-sum, 54–55
“marriage,” 51
1986 reform of, 52
payroll, 65, 222–23
“poll,” 55
progressive, 54, 285
regressive, 54, 288
“sin,” 53
squandering of money raised by, 90
as tool in government’s fiscal policy, 213–14, 219
trade barriers as, 288–89
teacher certification, 188–90
teachers’ pay, 37–38
technological change, 48–49, 151, 193, 228, 283–84
technology, xx, 115, 116, 141, 147, 148, 213, 280, 310, 320
technology stocks, 154, 208
“tech wreck,” 213
teenage smokers, 12
telegraph, workers displaced by, 192
telephone costs, long-distance, 20
television sets, decline in real cost of, 4
terrorism, insurance against, 161
Texas, 89
textile industry, 50, 142, 193, 290–91
texting, 60
Thailand, 266, 295
Thaler, Richard, xxv, 25–26, 81, 174, 175
Thatcher, Margaret, 55
Three Dog Bakery, 6
tobacco industry, 12, 62, 192
Topel, Robert, 136–37
tours and safaris, 32–33
“toxic assets,” 44, 180
tradable goods, 255–56
trade, xix–xx, 8, 50, 183, 277–301
balance of, 221
as beneficial for poor countries, 289–92
benefits of, 279–95
costs lowered by, 288–89
growth of, 279–80
importance of, 277–78
long-term vs. short-term effects of, 148, 283–87
losers created by, 283–84
openness to, 313–15
protectionism and tariffs and, 16, 188, 286–87, 313–14
special interest groups and, 192–94

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special interest groups and, 192–94
U.S. as leader in, 279–80
voluntary basis of, 293–95
wealth created by, 281–83
see also globalization
trade-offs:
competition and, 51
environmental issues and, 63, 91
taxes and, 52
ubiquity of, 10–12
transition costs, 283
Trans-Pacific Partnership (TPP), xx, 183, 286
Transportation Department, U.S., 196
Treasury, U.S., 100, 211, 231
treasury bonds, U.S., 176, 200, 219, 231–32, 259, 273
treasury notes, U.S., 246n
Trenton, N.J., drug dealers in, 129
Tribune Tower, 61
trophy hunters, 34
tropics, 311
Troubled Asset Relief Program (TARP), 246
Trump, Donald, xviii, 117, 220n, 221, 286, 287
in election of 2016, xx, 50, 183, 186, 193, 280, 284
Trump administration, 101–2, 122
trust, branding and, 124–25
tsetse fly, 312
Tulane University, 127
Turkey, 266
Twain, Mark, 284
Uganda, 33, 157
underground economy, 52, 95