As an oligopoly, through pricing power and product differentiation, Apple takes advantage of the conspicuous consumption customers could experience.
What Golf in China Shows About Economic Development
On a ladder of spending in developing economies, growing affluence first means wheat and meat. Then, climbing somewhat higher, people can afford consumer durables like a washing machine and a car. On a Chinese spending ladder, we could add golf. But it is a…
How Can Coffee Consumption Be an Economic Indicator?
If you live in northeast Montana, the nearest Starbucks might be 192 miles from home while you could choose among 62 Starbucks between 42nd and 59th Street in Manhattan. Beyond the US, Italy has no Starbucks, Canada has 1396 and China, 1219. And, except for Morocco and Egypt, Starbucks has…