Some questions to consider as you watch this video, and to discuss in the comment thread if you would like:
1) Do you agree with the joint statement (0:39 in the video)? How would you modify it if you don't?
2) Related to the argument at 2:15 in the video: If there is a large influx of unskilled workers, can we expect the wages of any group of workers to be helped out?
As I said at the beginning of class my goal for you is to be able to read news articles and interpret charts with a more critical and "economic" eye. That being said, this WSJ article is an excellent summary of the current economic climate as well as an excellent test of your economic prowess. What concepts have we covered that are inherent in this article? Can you compare the income elasticity with the cross-price elasticity? Which elasticity dominates? Or, do they reinforce each other?
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