Our economic news summary ranges from elasticity and a Berkeley soda tax to the minimum wage and the cost of living, to the power of the market and ivory.…
Weekly Roundup: From Skyscraper Shadows to Trendy Foods
This week’s everyday economics includes property rights, trade, creative destruction, entitlements, tradeoffs, conservation, externalities, price, and markets.…
Why We Need Trophy Hunting
Expensive trophy hunting packages demonstrate how the price system gives a value to animals that helps to preserve them.…
What Happens When People Pollinate Better Than Bees?
Pricing ecosystems and the market’s practical and ethical dilemmas take us to Malthusian economics and the difficulty of finding a valid conservation tool.…
What is the Price of a Rain Forest?
Chevron said that $40 million was sufficient. Attorneys representing 47 villagers from Ecuador’s rain forest considered $19 billion. And now, we have several court decisions. Our story begins in…
Lobster Economics
The year is 2008. Icelandic banks crash. Canadian lobster processors lose their financing. The result? Demand from Canadian processors for Maine’s lobster harvest decreases. Meanwhile, on the su…