Illustrated by the impact of cheap oil, the natural resource curse hits countries that have disproportionately focused economic activity on one industry.
This week’s everyday economics include competition, oligopoly, marginal cost and benefit, GDP growth, unemployment, supply and demand, OPEC, redistribution.
The power of OPEC as a cartel that controls oil prices through quotas on its members might be a myth.
econlife®
Connecting economics with everyday life.
Located at the intersection of current events, history, and economics, econlife® slices away all of the layers that make economics boring and complex. We like economics and we would like for you to like it too.
