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The Marketplace of Ideas

Here’s what’s going on this week in the online world of economics.

  • You don’t need a college degree to make it in a STEM field, according to a new report from Brookings: “Half of all STEM jobs are available to workers without a four-year college degree, and these jobs pay $53,000 on average—a wage 10 percent higher than jobs with similar educational requirements.”
  • Cutting out your $4 latte-a-day habit may help your budget. But Pound Foolish author Helaine Olen says most Americans’ financial problems go much deeper than the easy fixes personal finance gurus love to recommend.
  • Phillip Klein on who pays more and who pays less under Obamacare. (Last two paragraphs in particular.) [Washington Post]
  • What does the recent spike in real interest rates mean for the US economy? [Forbes]
  • Technology has empowered the powerless, but as the NSA’s massive surveillance efforts prove, it’s also empowered the powerful. This Econtalk podcast with security expert Bruce Schneider takes a close look at the relationship between power, privacy, security, and the internet.
  • Conventional economic wisdom holds that wages don’t tend to fall much during recessions. This theory helps explain high unemployment rates: rather than lower everyone’s wages, employers turn to layoffs. A new study by Elsby, Shin, and Solon of how wages in the U.S. and Britain responded to the Great Recession complicates that assumption. (via Marginal Revolution)
  • Rare chicken breeds are making a comeback. (Markets in everything.) [Modern Farmer]
  • Does Netflix’s push for original content make good economic sense? [Ivey Business Review]
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