Our weekly news roundup includes Starbucks Rewards and marginal thinking, the opportunity cost of housework, and how clothing affects human capital.
This week’s economic news summary includes the diner’s dilemma and marginal analysis, property rights in outer space, the Phillip’s Curve and unemployment.
Like the tragedy of the commons, splitting a bill among friends at a restaurant involves an individual’s marginal benefit and the group’s marginal cost.
Our everyday economics includes wages, externalities, productivity, income, tradeoff, taxes, fiscal policy, gender, human capital and comparative advantage.
A minimum wage hike causes labor intensive fast food restaurants to exit the market, capital intensive restaurants to enter and the number of jobs to drop.
Worried about losing sales to upscale brands, Starbucks is using competitive strategies to increase demand from affluent customers.
Our Posts Roundup Sunday 3.01.15 Handy notes from Warren Buffett…more Monday 3.02.15 The basics of Greek tax evasion…more Tuesday 3.03.15 Insight about airline queues…more Wednesday 3.04.15 Why we subsidize Brazilian farmers…more Thursday 3.05.15 What an ATM can teach us…more …