Time Capsule: FDR’s New Deal (1933-1939) 🧵
1/ The New Deal was a series of programs, reforms, and public works projects introduced by President Franklin D. Roosevelt to combat the Great Depression. It reshaped America’s economy, government, and society.
Economic Thought: George Akerlof’s Market for Lemons (1970) 🧵
1/ In his groundbreaking 1970 paper, George Akerlof introduced the concept of markets where quality is uncertain, leading to adverse selection. The term “lemons” refers to low-quality goods (e.g., defective cars) that distort the market.
Time Capsule: Québec Maple Syrup Heist 🧵
1/ In 2011-2012, the Québec Maple Syrup Heist became one of the biggest agricultural thefts in history. $18.7 million worth of syrup—over 9,500 barrels—was stolen. But why was maple syrup such a big deal?
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