{"id":856,"date":"2021-08-12T22:22:49","date_gmt":"2021-08-13T02:22:49","guid":{"rendered":"http:\/\/blogs.bu.edu\/zagorsky\/?page_id=856"},"modified":"2021-08-12T22:52:33","modified_gmt":"2021-08-13T02:52:33","slug":"2017-osu-blogs","status":"publish","type":"page","link":"https:\/\/blogs.bu.edu\/zagorsky\/posts-written-at-ohio-state-univ\/2017-osu-blogs\/","title":{"rendered":"2017 OSU Blogs"},"content":{"rendered":"

Do Ethical People Finish Financially First or Last?\u00a0 December 28, 2017<\/strong>
\nIt is almost Christmas time and the song \u201cSanta Claus is coming to town\u201d keeps playing over and over.\u00a0 For me the key lines of this ear-worm are \u201cHe knows if you\u2019ve been bad or good so be good for goodness sake.\u201d\u00a0 The song clearly states doing the right thing leads to more gifts on Christmas day. I have been puzzling over these lyrics for years and wondered if the lines are true.\u00a0 Outside of Christmas does being ethical and honest lead a person to riches or poverty?\u00a0 While the debate has lasted a long time, only recently have actual data been gathered that can answer the question.\u00a0 My recently published analysis contained results that surprised me; only a few ethical and unethical acts were associated with financial changes. Continue reading<\/p>\n

Why does the price of turkeys fall just before Thanksgiving?\u00a0 November 20, 2017<\/strong>
\nThanksgiving is a great U.S. holiday during which people consume huge quantities of turkey, stuffing, cranberry sauce and pie.\u00a0 One of the stranger things about this holiday, however, is that a few days before everyone starts cooking, whole turkeys are suddenly discounted by supermarkets and grocery stores. Continue reading \u2192<\/p>\n

GOP plan to tax college endowments like Yale\u2019s and Harvard\u2019s would be neither fair nor effective.\u00a0 November 8, 2017<\/strong>
\nTucked away in the recently announced GOP tax bill is a small item you may have missed: a new tax on university endowments. As I have spent decades working in higher education, the proposal immediately piqued my interest.\u00a0 Colleges create endowments by raising funds from alumni, companies and other donors, invest the money in stocks, bonds and other assets, and use the returns to fund student aid programs, professors\u2019 salaries and any other expenses needed to run a college. Republicans want to slap a 1.4 percent tax on certain endowments\u2019 investment income, also known as their returns. Continue reading \u2192<\/p>\n

Puerto Rico \u2013 you don\u2019t count\u2026\u2026to the U.S. government.\u00a0 October 25, 2017<\/strong>
\nHurricanes Irma and Maria devastated Puerto Rico in September destroying homes, crops and communications. Many weeks later, less than 20 percent of the electricity has been restored, and no one really knows when the rest of the island will regain power.\u00a0 How much did the devastation caused by these storms on Puerto Rico impact key U.S. mainland indicators like GDP, unemployment and inflation?\u00a0 The answer might surprise you; not at all.\u00a0 Continue reading \u2192<\/p>\n

Why we should bring back the $500 note and other big bills.\u00a0 October 20, 2017<\/strong>
\nA world without cash seems wonderful at first glance since it is convenient and fast. You don\u2019t need to withdraw dollars or euros ahead of time. You don\u2019t have to worry about money being lost or stolen. Paying for things with your phone is a breeze.\u00a0 Many countries around the world are steadily shifting away from cash. Canada, the United Kingdom and Sweden have already largely embraced a cashless society. The U.S. is also steadily making the move, with people holding smaller amounts of cash.\u00a0 Continue reading \u2192<\/p>\n

Richard Thaler Wins the 2017 Economics Nobel Prize.\u00a0 October 9, 2017<\/strong>
\nThe 2017 Nobel Prize in economics was won by the University of Chicago\u2019s Richard Thaler.\u00a0 The Royal Swedish Academy of Sciences gave the prize \u201cfor his contributions to behavioural economics,\u201d which is the integration of economics with psychology.\u00a0 The award was not a total surprise since Thaler\u2019s name was floated earlier on the list of potential winners. Continue reading \u2192<\/p>\n

Cincinnati Ohio and P&G\u2019s Board Fight.\u00a0 October 3, 2017<\/strong>
\nOn October 10th Proctor and Gamble, nicknamed P&G, is holding a shareholder meeting to elect a new board of directors.\u00a0 This vote has the potential to dramatically impact Cincinnati, Ohio.\u00a0 Most corporate shareholder meetings are boring affairs that rubber stamp management\u2019s slate of candidates.\u00a0 Not this one.\u00a0 Nelson Peltz, a Wall Street billionaire, is spending huge sums of money asking P&G\u2019s shareholders to vote the white ballot.\u00a0 Voting white will put him on the board and give him some control.\u00a0 P&G is spending equally large sums to convince shareholders to vote the blue ballot.\u00a0 The blue ballot will keep Peltz off. Continue reading \u2192<\/p>\n

Is it me or are there more disasters in the US?\u00a0 September 8, 2017<\/strong>
\nIs it just me, or do you also think the number of major natural disasters is increasing each year?\u00a0 Disasters make news.\u00a0 Are they just being over-hyped by the onslaught of 24\/7 reporting?\u00a0 The U.S. government\u2019s National Oceanic and Atmospheric Administration (NOAA) actually maintains a website that answers this question.\u00a0\u00a0 NOAA\u2019s list of billion dollar weather and climate disasters goes back to 1980 and records the date, place, deaths and total cost.\u00a0 Since 1980 there have been 212 disasters, which NOAA calculates have a combined cost of over US$ 1.2 trillion. Continue reading \u2192<\/p>\n

The penny may be worthless, but let\u2019s keep it anyway.\u00a0 August 24, 2017<\/strong>
\nThere has been a growing war on cash in an attempt to curb terrorism and tax evasion.\u00a0 Much of the focus has been on abolishing large bills, such as the decision to eliminate the \u20ac500 note from circulation.\u00a0 However, politicians are also targeting smaller forms of money for elimination.\u00a0 U.S. Senators John McCain and Mike Enzi introduced legislation in March 2017 to eliminate minting of pennies and switch the dollar from paper to a coin only. Continue reading \u2192<\/p>\n

How Economics Helps You Save Money When Traveling Internationally.\u00a0 July 28, 2017<\/strong>
\nThe number of international travelers is soaring. Many travelers need different currency as they arrive in new countries.\u00a0 In the past, travelers using an ATM, credit or debit card were simply charged for purchases and withdrawals in whatever currency the locals used.\u00a0 For example, U.S. travelers to France were charged in Euros when they used their credit card in Paris. Recently, instead of being simply charged in the local currency many travelers are being asked if they want to pay in their home currency.\u00a0 Companies offering the service call it \u201cdynamic currency conversion.\u201d\u00a0 For example, some U.S. travelers to France are now asked if they want to complete transactions in dollars.\u00a0 Continue reading \u2192<\/p>\n

How Trump\u2019s nominee for the Fed could turn central banking on its head.\u00a0 July 25, 2017<\/strong>
\nPresident Donald Trump on July 10 nominated Randal Quarles to be one of the seven governors of the Federal Reserve System, the central bank of the United States.\u00a0 Before I get to Quarles and his qualifications, it\u2019s important to understand the Fed and what it does. Its decisions are vital to every person on the planet who borrows or lends money (pretty much everybody) since it has enormous influence over global interest rates. Its board of governors also influences most other aspects of the global financial system, from regulating banks to how money is wired around the world. Continue reading \u2192<\/p>\n

Four Key Facts about Fireworks.\u00a0 June 29, 2017<\/strong>
\nThe 4th of July is a day for many people of parades, barbeque and of course fireworks.\u00a0 The tradition got its start when the founding fathers met in Philadelphia to write and sign the Declaration of Independence.\u00a0 The day after the Continental Congress voted for independence, John Adams, the future U.S. president, wrote to his wife Abigail.\u00a0 At the end of his letter he stated that Independence day \u201cought to be solemnized with pomp and parade, with shews, games, sports, guns, bells, bonfires and illuminations from one end of this continent to the other from this time forward forever more.\u201d One year later in 1777 Philadelphia had fireworks, which Adams called \u201cilluminations,\u201d plus a parade commemorating Independence Day.\u00a0 Since the 4th is so closely associated with fireworks here are four key points to talk about between explosions. Continue reading \u2192<\/p>\n

Will Regulating Fast Food Restaurants Really Help Poor People?\u00a0 June 14, 2017<\/strong>
\nEating fast food is frequently blamed for damaging our health.\u00a0 It is not the healthiest type of meal since it is typically high in fat and salt.\u00a0 Because of this some government officials have considered regulating parts of the fast food industry to improve public health and reduce health inequalities across society. Regulating fast food locations to improve health among low income Americans rests partly on a key assumption: that fast food is primarily eaten by poor people, who cannot afford nutritious but more expensive food.\u00a0 Mark Bittman in the New York Times, summed it up nicely: \u201cThe \u2018fact\u2019 that junk food is cheaper than real food has become a reflexive part of how we explain why so many Americans are overweight, particularly those with lower incomes.\u201d Our recently published research examined this assumption Continue reading \u2192<\/p>\n

When people leave Ohio, where do they go?\u00a0 May 24, 2017<\/strong>
\nA few months ago newspapers in Columbus and Dayton trumpted stories with headlines like \u201cMore People Moving Out of Ohio.\u201d\u00a0 Both stories relied on data from large moving companies.\u00a0 While data from United Van Lines and Atlas Van Lines is interesting, relying on moving companies for migration information presents a biased view of migration.\u00a0 Continue reading \u2192<\/p>\n

Census director\u2019s resignation could affect control of Congress after 2020.\u00a0 May 14, 2017<\/strong>
\nJohn H. Thompson, the director of the U.S. Census Bureau, just resigned amid a funding fight over the 2020 Census.\u00a0 Since it comes at the same time that the president fired the director of the FBI, why should anyone care about the resignation of just another Washington \u201cbean counter\u201d? This bean counter, whose name is likely unfamiliar to the vast majority of Americans, is actually one of the most important people in determining whether Democrats or Republicans control Congress. The census has a significant impact on political representation and how federal money is distributed. Moreover, how hard the director fights for more funding helps determine the accuracy of the census. Continue reading \u2192<\/p>\n

Is The Trump Individual Tax Cut The Biggest Ever?\u00a0 April 26, 2017<\/strong>
\nPresident Donald Trump has long been known for his fondness for superlatives when describing his projects and policies. His administration\u2019s proposal for a tax cut is certainly no exception.\u00a0 In a recent interview with the Associated Press he declared: \u201cIt will be bigger, I believe, than any tax cut ever. Maybe the biggest tax cut we\u2019ve ever had!\u201d\u00a0 Continue reading \u2192<\/p>\n

Update for 2017 on the \u201cCost of Going to the Prom\u201d\u00a0 April 17, 2017<\/strong>
\nIn both 2014 and 2015 I wrote about the cost of going to the Prom. I found the results surprising. The cost of going to the prom from 1998 to 2015 was going up much slower than the cost of inflation. The findings appeared in outlets like the Washington Post, US News and The Conversation. It is now two years later.\u00a0 What has happened since 2015 to the cost of attending the prom? Continue reading \u2192<\/p>\n

Taxes: Where the Federal Government gets its money is not where you think.\u00a0 April 13, 2017<\/strong>
\nIt is almost April 15th; the time many people in the U.S. file their income taxes.\u00a0 Shocking as it may seem, personal income taxes don\u2019t provide most of the federal government\u2019s revenue.\u00a0 Since World War II personal income taxes have consistently provided less than half of all the money taken in by Washington. Just as shocking has been the change in the source of federal revenues over time. The official statistics show in the 1940s and 1950s corporations picked up a major share of supporting the federal government. Today, it is taxes on workers. Social security and Medicare taxes are now four times more important in providing revenue for the government than they were in the mid-1940s. Continue reading \u2192<\/p>\n

Why Some People and Businesses Are Happy About Rising Interest Rates.\u00a0 March 15, 2017<\/strong>
\nThe Federal Reserve is expected to lift short-term interest rates at the close of its two-day meeting today and signal that more hikes are to come over the course of the year. Numerous commentators have focused on who is hurt by rising rates, particularly those with lots of floating rate debt, such as a credit card balance, or anyone in need of a loan. Not everyone, however, is negatively affected by rising rates. There are some individuals and businesses cheering the Fed on as it pushes up rates, including savers, people traveling abroad and foreign exporters and businesses with large cash balances. Continue reading \u2192<\/p>\n

What is the Council of Economic Advisers and Does it Really Matter? February 10, 2017<\/strong>
\nWhen President Donald Trump formally announced his Cabinet, one of the surprises was that the list of 24 Cabinet-level officials did not include the chair of the Council of Economic Advisers (CEA).\u00a0 There is no formal requirement that an economic adviser be part of the Cabinet. However, Barack Obama started a new trend by appointing the last four council chairs as part of his Cabinet. Being part of the Cabinet is important because it ensures economic as well as political considerations are part of presidential decisions.\u00a0 Continue reading \u2192<\/p>\n

Why Wall Street\u2019s Dow 20,000 is totally meaningless.\u00a0 January 25, 2017<\/strong>
\nThe Dow Jones Industrial Average just broke 20,000 for the first time.\u00a0 Traders and investors cheered this historic high of the world\u2019s most famous stock market index, which is composed of 30 of the biggest and best-performing American companies and is frequently used as a barometer of the strength of the economy. Continue reading \u2192<\/p>\n

What Has Happened to Maternity Leave Over Time?\u00a0 January 23, 2017<\/strong>
\nThe recent presidential campaign reminded us that the U.S. is one of only a handful of countries that doesn\u2019t require companies to provide paid maternity leave. Maternity leave is important. One of the key reasons is because medical researchers have shown overwhelmingly positive effects when parents are able to spend time with their newborn children. Continue reading \u2192<\/p>\n","protected":false},"excerpt":{"rendered":"

Do Ethical People Finish Financially First or Last?\u00a0 December 28, 2017 It is almost Christmas time and the song \u201cSanta Claus is coming to town\u201d keeps playing over and over.\u00a0 For me the key lines of this ear-worm are \u201cHe knows if you\u2019ve been bad or good so be good for goodness sake.\u201d\u00a0 The song … Continue reading 2017 OSU Blogs<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":5335,"featured_media":0,"parent":860,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/pages\/856"}],"collection":[{"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/users\/5335"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/comments?post=856"}],"version-history":[{"count":3,"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/pages\/856\/revisions"}],"predecessor-version":[{"id":882,"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/pages\/856\/revisions\/882"}],"up":[{"embeddable":true,"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/pages\/860"}],"wp:attachment":[{"href":"https:\/\/blogs.bu.edu\/zagorsky\/wp-json\/wp\/v2\/media?parent=856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}