Economics
Myth of the Free Markets: A Catholic Perspective
By Dr. Hassan M. Shirvani The importance of economic education in fostering higher levels of social welfare and political stability is widely acknowledged. However, judging by the poor quality of most public economic debates, the level of economic literacy, even in major industrial countries, seems to be still awfully low. This is particularly evidenced by the increasing tendency of many debaters to refute the views of their opponents, not…
Read MoreAlexander the Great’s most difficult Challenge from the PAST is a Great Phoenician Legacy TODAY!
My Negotiation Experience in Macedonia” by Dr. Habib Chamoun-Nicolas Alexander the Great: Macedonia and the Phoenicians It is known that Alexander the Great of Macedonia experienced great challenges when attempting to conquer Tyre, the great trade city of Phoenicia. The Phoenicians were known to be a pacifist culture and people, however, if they were attacked,…
Read MoreECONOMICS OF A TRAGEDY: DID DUOPOLY BRING DOWN THE BOEING 737 MAX?
This story begins in 1916, when businessman William Boeing wanted a plane to fly him from place to place among his business interests, but a satisfactory model was not available. So Boeing decided to produce his own. Over the next century, this effort evolved into the greatest airliner manufacturer of all time, the Boeing Company.
Read MoreTrade for Texas: Strength in North America
By Dr. Beverly Barrett –This spring, within two weeks, the United Kingdom has requested two extensions to determine the country’s way forward in relationship to the European Union (EU), regarding “Brexit.” Since the British popular referendum nearly three years ago, these extended deliberations remind that trade is politically charged and important given the trade rules…
Read MoreBusiness Schools and the Financial Crisis
By Dr. Hassan Shirvani—Business schools have been widely criticized for causing the recent financial crisis by teaching deeply flawed financial models and by failing to instill in their students an adequate appreciation of socially responsible behavior. As a result, many of their graduates, armed with their defective financial models and lacking in ethical standards, are accused…
Read MoreCognitive Biases and Rational Behavior
By Dr. Hassan Shirvani—As you might have heard, the 2017 Nobel Prize in Economics was awarded to Richard Thaler for his pioneering work in the field of behavioral economics, a school of thought dedicated to the application of psychology to economics. The main point of this school is that humans are subject to too many…
Read MoreProfiting from Harvey
By: Gavin Brown & Sajjad Meghani–Houston recently suffered from the onslaught of Harvey, a once-in-a-thousand-years flood which devastated large parts of the city. Given the dire situation in Houston and seeing an opportunity for profiteering, some individuals were quick to make money by taking advantage of those who had been adversely affected by this horrific…
Read MoreAn Economic Explanation for Why Donald Trump Won the 2016 Presidential Election
By Dr. Pierre Canac – With real GDP growing at 3.2% during the third quarter of 2016 while unemployment was running at 4.6% in November and 178,000 jobs were created during the month, we could have expected that the voters would have returned the incumbent party to the White House. However, it did not happen.…
Read MoreFriendship Ambassador Award Gala: US – China People’s Friendship Association
By Dayuan Peter Liu – On Friday October 28, 2016, at the Kim Son Downtown Ballroom, the US-China People’s Friendship Association (USCPFA) Houston Chapter hosted the 10th Annual Friendship Ambassador Award Gala. The University of St. Thomas is a Silver Sponsor of this event and has been in a good relationship with USCPFA for many…
Read MoreAdvertising and Economics
By Dr. Hassan Shirvani–Advertising is an important feature of our daily economic life. As we watch TV, listen to radio, read newspapers and magazines, and use social media, we are constantly bombarded with advertisements. For this “privilege,” we are asked to pay some $325 billion per year, roughly 2 percent of our annual national income. Given this heavy demand of advertising on our…
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