Economics

Economics
This assignment includes a podcast you should listen to and a speech to read. Have fun!

http://www.npr.org/sections/money/2014/02/07/273060341/episode-516-why-paying-192-for-a-5-mile-car-ride-may-be-rational

Prompt: Consider the case of ice salt in NYC. Even if there hadn’t been a law against price gouging, why didn’t Home Depot charge a higher price for its salt during the ice storm?

http://www.theguardian.com/world/2013/dec/08/david-simon-capitalism-marx-two-americas-wire

David Simon says that he is not a Marxist, but that he thinks Karl Marx did a good job of identifying the problems that would arise in society if capital (or the owners of machines, property, etc.) “got its way” over the working class. What specific problems does he say will result if capital is allowed to have its way?