A Top Selling Artist

At a Christie’s auction, a painting of a candle by German artist Gerhard Richter sold for $16.5 million. A recent documentary on this 80-year-old artist shows him painting in his studio and atte…

High and Low Gas Prices

Why is the average price of a gallon of regular gasoline in Wyoming close to $3.36 and New York, $4.00? Location and regulation. Wyoming produces oil, it refines it, and, its taxes are among the lowes…

Chinese State-Run Firms

Where would your cell phone, your car, your gasoline, your savings account and the TV station you watch all have one thing in common? China. Called state capitalism, 45% of the Chinese economy is owne…

Our Shopping Habits

Our story starts during the 1990s. When Procter & Gamble (P&G) first advertised Febreze as a room deodorizer, they thought it would be an instant success. However, the households that most nee…

Pricey Pigeons

At the Paradise Pigeon auction in Belgium, a Dutch breeder sold a female pigeon to a Chinese shipbuilder for $328,000. Purchased to breed rather than race, Dolce Vita (the bird) will enable Hu Zhen Yu…

Super Bowl Economics

The least expensive Super Bowl weekend in Indianapolis might cost close to $6248. That means you purchased a “nosebleed” seat for $2100 from StubHub, your coach airfare from NY or Boston w…

Presidential Futures

The prices of buy and sell contracts for the Republican presidential candidates in Iowa provide a good history of the beginning of the primary race. Romney contracts (max of $1) on the first and last …

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