Because of a huge wave and massive container ships, we wound up with a gargantuan number of Lego pieces becoming The Great Lego Spill.
While the most recent USDA totals are outdated, the tooth fairy and teenage baby sitters can tell us the up-to-date cost of raising a child.
A basic part of Broadway economics is the “cost disease” that plays “catch” from higher wage industries that benefit from more productivity.
Including how much we spend on the tooth fairy, the cost of raising a child can simply be one total or it can involve different specific expenditures.
As cargo ships become larger, the supply chain benefits of their economies of scale are offset by the externalities they create at ports and beyond.
Our everyday economics include consumption expenditures, Pigovian taxes, variable pricing,economies of scale, unskilled labor, national income and the money supply.
Because free shipping creates pressure on retailers to send parcels more cheaply, UPS has had to lower costs by increasing processing productivity.
Behavioral economists like Gary Becker say that the family is like a factory where land, labor and capital are combined to “produce” goods like children.