Sometimes you need an economist who figures out how to improve Senegal’s sanitation by getting more people to use toilet suckers.
When the price of your French fries increased during the past decade, one reason was a potato cartel that was rather similar to OPEC.
Illustrated by the impact of cheap oil, the natural resource curse hits countries that have disproportionately focused economic activity on one industry.
To grasp world oil markets, we can look at supply and demand for WTI in the U.S. and Brent for the world as price and quality benchmarks.
This week’s everyday economics include competition, oligopoly, marginal cost and benefit, GDP growth, unemployment, supply and demand, OPEC, redistribution.