economist

Many renters believe that a cost-of-living crisis is brewing in America's major cities.New York City is showing up as a hotspot of rent inflation. The average rent for 1-bedroom apartments in Manhattan rose to $3,995 a month in May 2022 — a 41% increase from one year ago, according to Zumper.Sudden, double-digit rent spikes are hitting other hubs, including Chicago, Los Angeles, and Austin, Texas. Zumper data shows that growth is particularly strong in Sun Belt cities such as Miami, where rents have risen to $2,700 a…

Why is the Anglo-Saxon world so individualistic, and why has China leaned towards collectivism? Was it Adam Smith, or the Bill of Rights; communism and Mao? According to at least one economist, there might be an altogether more surprising explanation: the difference between wheat and rice. You see, it’s fairly straightforward for a lone farmer to sow wheat in soil and live off the harvest. Rice is a different affair: it requires extensive irrigation, which means cooperation across parcels of land, even centralised…