Professor Truman Bewley discusses his book Why Wages Don’t Fall During a Recession

“Social memory is the means by which information is transmitted among individuals and groups and from one generation to another. Not necessarily aware that they are doing so, individuals pass on their behaviors and attitudes to others in various contexts but especially through emotional and practical ties and in relationships among generations [...]”

How does team budget effect win percentage? How can small market teams effectively manage their rosters? What role should salary caps play in Major League Baseball?