This episode of Real Life Economics focuses on international trade theory, trade tariffs and trade war. Tariffs are a subject you can’t ignore these days, but what does that actually mean to you? International Trade Theory strongly suggests that trade is a win-win with economists like Adam Smith...

This episode of Real Life Economics focuses on automation and the impacts to job availability and wages. To properly understand automation, one must understand factors of production: Labor, Land, Capital and Entrepreneurship, or as we translate them: Materials, Machines, Management and Workers,...

This episode of Real Life Economics focuses on immigration and the impacts it has on the U.S. as well as experiences from other countries. To properly understand it’s impacts, we explain the mechanics of labor market theory as well the mechanics of long term trend growth. With that primer, we...