The chocolate deficit is a supply and demand story with weather and fungus problems on the supply side and demand up from developing nations.
GDP problems include that it’s not calculated the same way in different countries, its data can be tough to gather, and its components omit important items.
As a growing demographic, the aging population in China has been targeted by businesses selling consumer goods and residential and financial services.
Because we tend to abuse and overuse publicly shared resources, the result is a tragedy of the commons that includes China’s air pollution.
Even for a huge multinational like Starbucks, competing globally requires knowledgeable monopolistic competition and knowing local tastes and habits.
Our weekly roundup includes everyday economics that relate to opportunity cost, corporate taxation, GDP, monopolistic competition & negative externalities.
In refrigerators in developing nations, we can see the impact of affluence on their diet and on supply and demand that will change worldwide food prices.
Because the benefits of the tire tariff are concentrated while its cost is diffuse and invisible, government tend to create this type of regulation.
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…
During the 18th century, Sweden gave cash to its “spies” in England so they could buy copper and iron production secrets. Meanwhile, England issued a patent to a chemist who just returned from Russia with a new brewing method. Moving in the other…