Economics

Last month, I wrote a post titled “Sorry, Bitcoin Isn’t a ‘Currency’” pointing out that whatever the merits of Bitcoin as an investment, its use as an actual currency useful for buying and selling was minimal. I wrote it thinking...

The most recent permutation of the euro crisis seems to have enlivened a renewed interest in Bitcoin, the artificial "currency." Unfortunately it's missing the most essential aspect of money: it's not useful for buying anything. Bitcoin's rise as a...

The only people who don't seem to hate the plan are those who are just left speechless. Still there's a case to be made that (a) for most Cypriots it beats the alternatives and (b) a devastating run on the...

The average New York City securities industry bonus went up eight percent last year, to $121,890. Surprised? Didn't think so. Wall Street has been climbing for 25 years. The chart here shows you why.

In 1940, the most expensive apartment in the San Remo, the Art Deco masterpiece looking out over Central Park, rented for $900 a month. A more typical price was $540. Now an apartment there lists for $29,750 a month, a...

"Deflationary spirals" have been a major subject on the economics agenda. The theory is clear, but there are few actual examples to study. The Great Depression in the United States is one, and Japan is another.

Are 61% of the cigarettes smoked in New York smuggled? That number ricocheted around the web last week. Whether it's right depends on how much of New York's cigarette sales drop comes from tax evasion, and how much from changes...

Two stories from Phoenix neatly sum up the mixed economy. Investors and homeowners have benefitted from low interest rates and the Fed's efforts to jump-start the housing market. Investor gains haven't been matched by middle-class income.

The message coming from the European Central Bank seems to be that the debt crisis has passed and the time for austerity is finally over. Was that ever the right approach?

151 House Republicans voted against the budget measure. A bona fide revolt against the leadership, or an ingenious feint? If John Boehner keeps him job, we'll have an indication that many of those 151 Republicans tacitly support the deal they...