David Card was awarded half a Nobel Memorial Prize in 2021 in economic sciences for his contribution to labor economics, that is, the minimum wages and employment paper that he wrote with Alan B. Krueger. 

Card and Krueger wrote the paper called “Minimum wages and employment: A case study of the fast food industry in New Jersey and Pennsylvania” in 1993. The crux of writing this paper was to find out how the employers respond to an increase in the minimum wage; since the prediction from the conventional economic theory is somewhat unambiguous

Leave a comment

The Hunger Games: An economic perspective. 

The Hunger games trilogy introduced the genre of dystopian young adult fiction to the 21st century generation. It set the benchmark for dystopian literature in the years to come. The book is set in the fictional country of Panem. A boy and a girl from each of Panem’s 12 districts are chosen to fight to death in a gruesome, televised tournament organised by its government. The tournament, called the ‘Hunger Games’, ends with a lone survivor as the winner. 

Leave a comment

UK Financial Crisis

The UK is currently experiencing a turbulent political and financial period. Ex-UK Prime Minister Liz Truss left office on Thursday, October 20, just 45 days after taking office, making history as the leader of the country with the shortest tenure ever. Despite her brief tenure, she had a considerable impact on the country heading for recession.

What did Liz Truss do to require her resignation from her position after just 45 days? This article will explain the UK’s economic condition, Liz Truss’ mini-budget and why it was received poorly.

Leave a comment


For this episode, we had the pleasure of inviting Mr Dev Kakde . Mr. Kakde is a statistician with education and expertise in Manufacturing and Transportation. He has also contributed to original research in machine learning theory, quality control and prognostics. He is also an ASQ certified reliability engineer and has a knack for solving engineering problems using statistics and machine learning techniques. Currently, he is working as a principal research statistician and developer with SAS analytics.

Leave a comment

False Ceiling?

On 15th December 2021, the US Senate voted to increase the country’s debt ceiling by US$2.5 trillion in an attempt to prevent the first possible US default. According to the Treasury Secretary Janet Yellen, failure in raising the borrowing limit would’ve led to recession and unemployment throughout the country. However, this situation leads to few questions regarding the purpose, importance and implications behind the debt ceiling.

Leave a comment