Why the PS5 is Sold Out
How I got the data
In a negative shock to productivity everywhere, both the new XBox and Playstation came out last week. Every time a new system comes out, there is huge controversy over people buying a bunch and then reselling. In this week’s video, I collect data on the resale prices for both systems, calculate a “demand” curve, and test my hypothesis for why the systems are so cheap.
Women in Economics Symposium
It is no surprise that women are underrepresented in the economics profession. Well, if you are a women or you know women interested in economics, consider attending this Women in Economics symposium in February. It’s free, online, and has some fantastic female economists.
Reading Advice
This piece on reading advice has been on my mind this weekend. I normally read whatever sounds interesting at the time, but he suggests reading books in clusters to develop some expertise. On top of his advice, I feel like we need to add that when you finish you should write something that synthesizes what you learned.
Crazy Currency Arbitrage
Zimbabwe is famous in economics for its hyperinflation around 2008. The country escaped that hyperinflation by using US dollars, where the government has no control over monetary policy. Now Zimbabwe has a dollar shortage, and entrepreneurial citizens are finding interesting arbitrage opportunities: you can buy a damaged dollar for $0.40, repair it, and resell it for $0.80.
Economics of Star Wars
If you love the combination of pop culture and economics, you’ll probably like this new site on the Economics of Star Wars. The creators demonstrate principles of economics using scenes from the Star Wars universe.