Called “price gouging” by many of us, an increase in prices as a hurricane approaches could be a productive incentive for supply and demand.
During the Hurricane Katrina clean-up, a man from Kentucky loaded 19 generators onto his rented U-Haul. Driving 600 miles to an area of Mississippi with no power, he tried to sell them. His price was double what he had paid. A good idea?…
Our weekly roundup includes how economics connected Venezuelan oil and beer, Russian taxes and vodka, Broadway and the $10 bill and moving and jobs.
Because of hyperinflation, Venezuela needs billions of bank notes so that businesses and consumers can pay the insane prices that rise daily.
Our everyday economics includes behavioral economics, GDP, demand & supply, inflation, tradeoffs, markets, consumer spending, environment, and regulation.
Shortages, long lines, and panic buying are several ways that hyperinflation is creating chaos for local and foreign firms and consumers in Venezuela.