Archive for June, 2008

Jun 16 2008

Another year of blogging at Welker’s Wikinomics wraps up…

Published by under Teaching

This blog was started in March of 2007 as a resource for economics students at the Shanghai American School, originally meant to accompany our class wiki. At first, the posts were written specifically for AP and IB Econ students at SAS, but over time readers from all over the world started visiting, reading and commenting on the blog. Other sites linked here, and our numbers steadily increased from rougly 40 visitors per day (mostly students) 12 months ago to an average of 200 visitors per day today. Since June of 2007 the blog has had over 60,000 visitors.

Welker’s Wikinomics Blog has changed in other ways as well. Teachers and students as well as other readers all over the world are reading the blog to learn how economics relates to the events going on around us in the world. Several times per week, a post is written with the purpose of applying basic economic concepts as they affect the world and explaining them in a way within the grasp of anyone seeking a principles level understanding of economics.

Recently, new authors have joined this blog, including Steve Latter from Fairfax, Virginia, who has taught AP Economics for nine years after retiring from his career as a CPA and a chief financial officer. Steve brings much real world experience to a blog that can sometimes be a bit on the academic side. Michelle Close, a fellow SAS economics teacher, continue to write the occasional post and has committed to writing regularly next year. In addition, I have recruited a few additional econ teachers from around the world to sign on as contributing authors, and I look forward to introducing them to our readers when the new school year starts.

Welker’s Wikinomics Blog has also been invited and has since joined the Business and Financial Blog network, an exciting opportunity that has further increased our readership and points to the credibility of what we write about here.

Right now, I am enjoying my second day of summer vacation. Two days ago I woke up in Shanghai and headed to the airport, tonight I sleep in my mountain cabin nestled in the rugged peaks of Northern Idaho. The serenity here seems like a different universe from the chaos from Shanghai. Over the next two months I will post only occasionally to this blog, but post I will… and readers can rest assured that when a new school year begins, and I once again start teaching Advanced Placement and International Baccalaureate Economics (next year I’ll be teaching at Zurich International School in Switzerland), daily posts will once again return to this blog.

For now I wish to thank readers for visiting this blog, and invite you to become not just readers or visitors, but contributors as well. Comments are always welcome, and if you are an Econ teacher or professor who is interested in becoming an Econ blogger, please send me an email and I’ll see about signing you on as an author. I can be contacted at

Have a great summer. Be sure to return in early August to read more great posts from myself and my fellow authors here at Welker’s Wikinomics Blog.


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Jun 12 2008

Welker’s daily links 06/11/2008

Published by under Daily Links

  • In the future, will everything be free? Well, maybe not everything, but lots more will. Krugman explains why:
    “…the ease with which digital content can be copied and disseminated would eventually force businesses to sell the results of creative activity cheaply, or even give it away. Whatever the product — software, books, music, movies — the cost of creation would have to be recouped indirectly: businesses would have to “distribute intellectual property free in order to sell services and relationships.”

    tags: economics

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Jun 11 2008

Welker’s daily links 06/10/2008

Published by under Daily Links

  • Blogger James Wexler summarizes McCain and Obama’s strategies for dealing with America’s housing crisis:

    “Sen. Obama has suggested $10billion in government funding to help homeowners sell their homes of modify their loans to avoid bankruptcy or Foreclosure.

    Sen. McCain feels like this is a bailout. He feels struggling homeowner and borrowers should share the responsibility and if helped should share equity (if there is a gain) with the lender and Federal Government.

    Obama wants the government to lend money to struggling home owners. Money which usually comes in the form of higher taxes

    McCain has pledged to eliminate (AMT ) taxes. A break that many Americans want (and need). However AMT tax cut with other extended tax cuts leaves less money for such help to home owners. Unless, other government programs are sacrificed. A move, most do not want.”

    tags: economics, housing prices, recession, fiscal policy

  • “High oil prices are here to stay due to heightened political risks, irresponsible behavior by oil-producing governments and growing global demand outside U.S. control. Oil is a finite resource which is produced by a partially cartelized imperfect market. Consumer countries should expand cooperation in order to level the playing field and reduce prices by increasing investment and production, promoting conservation, and diminishing geopolitical risks. Yet, in the long term, high demand, inadequate supply and severe geopolitical risks combine to make oil a problematic transportation fuel.”

    tags: economics, oil prices, scarcity, resources

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Jun 10 2008

Welker’s daily links 06/09/2008

Published by under Daily Links

  • Shanghai ranked one of the best cities in the world for global commerce:

    “Shanghai jumped into the top 25 in this year’s index, joining seven other Asian cities in this group with an eight-position jump that was the most of any city in the index. Among the world’s most populous and fastest-growing cities, Shanghai’s position in the index was bolstered by its economic stability, its legal and political framework, an increased quality of life and China’s booming economy.”

    tags: economics, china

  • Are high oil prices here to stay? This article suggests they’re not. New supplies will come online at the same time that consumers start to conserve and switch towards alternative energies.

    “The longer prices stay stratospheric, the worse the eventual crash – simply because the higher the prices and bigger the profit margins, the bigger the incentive to over-produce.

    It’s even possible that, a few years hence, we could see a sustained period of plentiful oil supplies and low prices, meaning $50 or below.”

    tags: economics, oil prices

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Jun 08 2008

Welker’s Wikinomics Blog ~ mixing “depression with hope” and having it all made “somewhat understandable”

Published by under AP Economics,Blogroll

The Employment Law Blog by John Phillips

I receive an alert every time another website links to my blog. When I received one this morning telling me that John Phillips at the Employment Law Blog linked here, I checked out his post and saw that he had done a post sharing with readers some of his favorite blogs. I just love the description he gives of this blog, which, when I think about it, is quite accurate and telling:

Another site to check out if you want a take on politics and the economy is, particularly if you want to mix depression with hope and have it all made somewhat understandable.

Thanks for the plug, John. I’m glad to hear that I am making economics at least somewhat understandable!

Check out John’s Law blog for an interesting take on how legal issues affect the workplace.

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