With populations growing older in the developed world, their wellbeing might affect the GDP growth rate because of the expense of their care.
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The Unexpected Consequences of More Efficient Lighting
Like 19th century English coal, more efficient and cheap LED lights can mean people and businesses use it more because of the lower opportunity cost.
Our Weekly Roundup: From Cheap Gas to Expensive Soda
This week’s everyday economics stories include subsidies, human capital, game theory, price controls, inelastic demand, and monopolistic competition.
Weekly Roundup: From Marijuana to Multinationals
This week’s stories on everyday economics include productivity, externalities, tax revenue, monopolistic competition, international trade and economic forecasting.
Weekly Roundup: From Lemons to Longevity
This week’s stories on everyday economics include baby boomer dependency ratios, disposable income, human capital, the price system, the money supply and the iPhone 6 supply chain.
What Do iPhones and Pencils Have in Common?
Whether looking at the supply chain for a pencil or an iPhone 6, we see globalization because price system incentives create cooperation.
Weekly Roundup: From Milkmen to Menus
This week’s stories on everyday economics include competitive market structures, business cycles, saving, conspicuous consumption and economic indicators.
Linguiça, Linguine & Linguistics
Because restaurants engaging in monopolistic competition need to differentiate themselves, they use their menu language to show their high or low price qualities.
Weekly Roundup: From Vodka to Tax Dodgers
Our weekly roundup includes stories from everyday economics that relate to creative destruction, taxation, price floors, labor markets and entitlements.
Why the Russian Government Loves Vodka
For 350 years, the Russian government has optimized the money it gets from vodka sales by creating a monopoly that takes advantage of inelastic demand.