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Powdered Donut Brotherhood versus Chaz and the Nubian Princess at the end of history.
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There's a very noticeable difference between flying first class and flying economy, and it seems unfair. But what people don't realize is that the people flying first class are the reason why economy tickets are so much cheaper, and that the mere existence of economy tickets is proof of how much progress we've made in economics and class equality: once upon a time in 1979, an average domestic round-trip flight cost $617, adjusting for inflation. That cost is down to $366 today – a 40% drop. How did that happen?This week on Words and Numbers, Antony Davies and James R.

In the real world, prices often seem far above marginal cost. If you're steeped in the perfectly competitive model, where price always equals marginal cost, it's easy to feel "ripped off" whenever you make a purchase. The obvious rebuttal is to point to all the fixed costs of production, but this greatly understates what a fantastic deal we consumers get.

According to "TheUpshot" column in the New York Times, there's a problem with cheap goods that needs fixing: "There is a worldwide glut that includes oil wells, steel plants, and eager would-be workers, and it will take more than a United States presidential election and a few months of solid global growth to fix it." The problem is that this presumes the true existence of what is really a mirage: an economy-wide glut.

If you’ve ever stayed in the hospital, you know you get overcharged for some ridiculous stuff. But one woman in Utah was allegedly charged nearly $40 to hold her own newborn.
Maybe you’ve seen a photo of the bill circulating on social media. Well, there’s more to it than what you’re probably seeing on Facebook. Here’s the story.

Pharmaceutical companies have been known to discredit natural, cheap solutions that compete with their high-dollar drugs. Now, the British Medical Journal has unraveled new research revealing how the makers of a cancer drug are blocking public access to a cheaper, safe, and effective alternative.

What happens when mega pharmaceutical companies get their new grip around one of the oldest asthma medications that many rely on for daily use? Based on historical data, it appears that one of the first action items is to exponentially increase the price of the same medication without any actual advancements of any kind. It’s a process that is involved with ‘repatenting.’

By Dean Baker | Truthout | May 15, 2013

By Ramzy Baroud | Palestine Chronicle | May 16 2013

It is an event ‘of cosmic proportions’, said one Palestinian academic, a befitting description regarding Stephen Hawking’s decision to boycott an Israeli academic conference slated for next June. It was also a decisive moral call which was communicated on May 8 by Cambridge University, where Hawking is a professor.

“If you’re not a terrorist, if you’re not a threat, prove it. This is the price you pay to live in free society right now. It’s just the way it is.”—Sergeant Ed Mullins of the New York Police Department   Immediately following the devastating 9/11 attacks, which destroyed the illusion of invulnerability which had defined [...]