Saturday, October 31, 2009

Over $5 for a Big Mac! Iceland's economy hit hard

The whole world has been hit hard by this recession but Iceland has been hit extra hard.

The value of there currency the Krona, has dropped over 70% since 2008. To but it in simple turns the cost of Big Mac in Iceland would be 650 krona or $5.50 in US dollars.

Monday, October 12, 2009

Elinor Ostrom becomes the first woman to win a the Nobel Prize in Economics

big congratulation to Elinor Ostrom who becomes the first woman to win the Nobel Economic Prize. She wins the award along with Oliver Williamson.

Ostrom one the award for her study on public commons and how commons made open to everyone to use can become abused and how people self govern to make sure that doesn't happen.

Williamson studied why business organized in the ways that they do.