I was talking the other day over the phone with my good friend “A”, and he told me how he saw the convoy of the President of the United States passing through the streets around his office. All the streets were closed, and of course, traffic jams were all around.

So, I told him about the [...]

When I arrived in Jerusalem in 2004, I was very excited about fulfilling my dream of becoming an Israeli citizen. I even remember one day, I was walking down the streets, and then suddenly, a policewomen approached to me and asked me for my ID. I did not have a clue why did she [...]

The general equilibrium theory proves – and this is the principle of free market economy – that when each individual maximize his and only his own utility, then the economy will reach prices that will lead it to an equilibrium which is efficient. The exact terminology is “Pareto Efficiency”, which means that it is not [...]

I was talking to my ex-boss a couple of weeks ago about economic development. We talked about how the west tries to promote public policies that induce economic growth and a better “quality of life” on the less developed regions.

He told me “You know, I saw a poll the other day about happiness, and the [...]

I just came from the festive dinner marking the last day of the 19th summer school in economic theory at the Hebrew University. I saw Kenneth Arrow, an economics Nobel price laureate, and one of the most brilliant minds of the world, being called by the waiter to serve the rice… well, he actually did [...]