What Economics Can Learn From The World of Sports

imageTwo economic indicators are broadly used to measure the health of our economy: GDP to measure wealth and performance, and the unemployment rate to measure participation. Unfortunately, with these two metrics guiding our economic policy, an economy of alarming wealth concentration has been the unintended consequence. The President has called income inequality and upward mobility the “defining challenge of our times”. The political right seems to be in agreement, but is nervous as to how it can be addressed without increased political centralization and the stifling of personal freedom. To this political debate I offer the following thought; that the economic model we seek balancing performance, competition, freedom, participation, local and global forces is already modeled for us by the world of sports. Continue reading

The Farmers’ Market: Hipster Loitering or Legitimate Shopping Experience?

imageThis morning the Golbabai family visited a farmers’ market in an Austin mall parking lot. Similar to my mother-in-law’s recent discovery of the usefulness of Google, I find myself a tentative and extremely late discoverer of this Saturday morning phenomenon. As someone who is more comfortable at the supermarket, the farmer’s market provided an excellent on-the-ground opportunity to compare the localist values I aspire to and the globalist world I’m used to.

Some observations comparing the supermarket and the farmers’ market from the perspective of a consumer: Continue reading