Originally published on Mon August 5, 2013 8:01 pm
By suspending New York Yankees third baseman Alex Rodriguez for 211 regular-season games — through the end of the 2014 regular season — Major League Baseball stopped short of the lifetime ban that had been threatened.
Originally published on Tue August 6, 2013 10:03 am
The Washington Post Co. will sell its flagship newspaper and one of the most respected news organizations in the country to Amazon.com founder Jeffrey P. Bezos, the company announced in a press release. The Post has been a family-owned business for four generations.
Amazon, the company said, will play no role in the purchase. Bezos is making the purchase personally.
Arizona's Monument Valley is known for its red sandstone buttes and spires, but now it's notorious for something else: crime. The Navajo Nation is one of the most violent reservations in the country. According to FBI reports, over the past five years, more rapes were reported on the Navajo Nation than in San Diego, Detroit or Denver, among other cities.
The U.S. attorney's office tries to take on the most violent crimes, but it often lacks enough evidence to prosecute. And because of antiquated tribal codes, Navajo courts can only order someone to serve one year in jail.
Originally published on Thu August 8, 2013 5:04 pm
After three months, $330,000 and a high-profile media blitz, the world's first hamburger grown in a lab made its worldwide debut Monday.
The unveiling of "cultured beef," as the burger is branded, was a production worthy of the Food Network era, complete with chatty host, live-streamed video, hand-picked taste testers, a top London chef and an eager audience (made up mostly of journalists). Rarely has a single food gotten such star treatment.
Originally published on Tue August 6, 2013 7:04 am
Silly me. I thought "rent-seeking" was something only landlords did.
But economists have their own way of looking at the world. To them, rent-seeking is a term for describing how someone snags a bigger share of a pie rather than making a pie bigger, as the venerable Economistexplains it.
So, a drugmaker can be seen as a rent-seeker if it cajoles doctors to prescribe more of a particular brand of medicine at the expense of a rival pharmaceutical company's wares.