1. In an MMO… new money comes in the form of monsters… that provide adventuring objectives for players. The new money, in this case… goes straight into the hands of people who will spend it. … All of this points to the great weakness of the Federal Reserve’s attempts at monetary stimulus: hardly any of the money actually leaks out into the real economy.
    — 

    What the Federal Reserve could learn from World of Warcraft

    MMO-style economies contain important monetary policy lessons for the central bank

     

  2.  

  3. Why coffee shortages won’t change the price of your Frappuccino

    You’re too loyal to Starbucks — and they know it

     


  4. As part of the effort, we plan to select the appropriate business model approach for our sales markets while continuing to offer our products in all markets with a strong focus on maintaining business continuity. We will determine each market approach based on local market dynamics, our ability to profitably deliver local variants, current Lumia momentum and the strategic importance of the market to Microsoft.
     


  5. Are teen pregnancies good for the economy?

    Teen pregnancies are at historic lows. But that has economic repercussions.

     


  6. When the bottom half of the country owns basically none of the country’s wealth, they can’t self-insure themselves against these risks. Instead, they must lead a relatively perilous life in which one misstep or mistake could wreck them and their families.
     

  7.  


  8. It’s not just Utah. Archaic booze laws around the country are stifling business and keeping you from trying some unique, tasty brews.

    Read more on this story here.

    Subscribe and listen to all of The Week’s mini-podcasts on SoundCloud hereand on iTunes here.

     


  9. In today’s podcast Ryan Cooper argues economic redistribution is inevitable.

    Read more on this story here.

    Subscribe and listen to all of The Week’s mini-podcasts on SoundCloud hereand on iTunes here.

     


  10. "There is no equality of opportunity in the U.S., nor anything remotely approaching it. Children’s outcomes are closely correlated with the incomes of their parents, more so in fact than almost every other similarly developed country. Year-to-year economic mobility is also very uncommon.

    Since vigorously celebrating equal opportunity that does not actually exist has not managed to soothe the masses, a new tactic has evolved: dismissing the whole inequality discussion as an unfortunate bout of envy.”

     


  11. "Despite lawsuits, the unpaid internship has come to seem like an inevitable fact of life. Some entry-level jobs, we hear, are too glamorous to pay. We learn that most young people, while eager, just aren’t prepared for the workforce. We are led to believe that the economy is still too weak to hire them; businesses want to pay, but budgets simply have no room.

    These three givens are actually myths, understandably embraced by employers, yet, more mysteriously, accepted as fact by the rest of us. So allow me to dispel them one by one.

    Phoebe Maltz Bovy, in The 3 big myths propping up unpaid internships

     


  12. If you’re lucky enough to have a job, you probably work extremely hard. Thanks to the power of technology and successive waves of downsizing, people today are doing the work that it took two or three people to perform decades ago. Employees put in frequent 10-hour days to meet their bosses’ demands, and often work remotely from home on nights and weekends. With productivity continually climbing, corporate profits have soared to all-time highs; the stock market gained more than $6 trillion in value in 2013. Yet Americans’ real disposable income went up a mere 0.7 percent the same year. What happened to the workers’ raises? Don’t ask. Remember: You’re lucky just to have a job.
    — William Falk, in The real cause of income inequality
     

  13.