When previously worthless byproducts like coffee bean husks, chicken paws, and hog snouts became popular, we increased our economic efficiency.…
Developing Economies
Developing economies are countries that display the earlier stages of a market system. Including China, India, the Philippines, they have fast growth rates and are helping propel the world economy. Because each one is different, econlife looks at examples of their businesses, consumers and governments.
The Mystery of the North Korean Economy
Looking at the North Korean economy, economists have to become detectives because the government refuses to share basic statistics.…
A Different View of Manufacturing Jobs
While the headlines emphasize the decline in manufacturing jobs in the U.S., looking at the world reveals a different story.…
How China Has Begun To Keep (a Social) Score
In China, by being good to your mother-in-law, you can elevate your social credit score, get a cheaper bike rental, and a better bank loan.…
The Food Fights Between the U.S. and China
Whether looking at chicken paws or hog hooves, U.S. and China food tastes have worked well together until U.S. and Chinese tariffs have upset the benefits of the relationships.…
Why U.S. Winemakers Can’t Fight the Trade War That the President Uncorked
While facts about China’s wine imports from the U.S. are somewhat surprising, still the impact of a tariff war is predictable.…
A 2018 Update: The World’s Top and Bottom Laissez-Faire Countries
The Index of Economic Freedom is a handy source of data for judging whether or not a government has a laissez-faire philosophy.…
Why We Have More Bananas
Customized container ship refrigeration has made it possible for our fruit imports to include many more bananas, limes, mangoes, and berries.…
Why It’s Tough for OPEC to Fight the Frackers
The OPEC nations are having a tough time deciding what oil price to target because it all depends on how U.S. shale oil producers will respond.…
What Brexit Will Do to the EU Budget
About more than the U.K., Brexit also creates EU budget problems because of the 10 to 12 billion euros that the British will no longer give annually.…