In a chicken sandwich are ingredients from around the world that one person can create but the price system gathered them for us at the local supermarket.
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 We Can Learn from Venezuelan Inflation
Shortages, long lines, and panic buying are several ways that hyperinflation is creating chaos for local and foreign firms and consumers in Venezuela.
Weekly Roundup: From Good Voices to Bad Marriages
Our everyday economics includes GDP, human capital, price system, public goods, taxes, gender pay gap, externalities, subsidies, marriage economics and ROI.
How To Price a Nobel Prize
Shown by auctions of Nobel prize medals from recipients like Simon Kuznets and James Watson, through markets, the price system conveys information.
Weekly Roundup: From Drinking Behavior to Dating Decisions
This week’s everyday economics involved 6 economists and such ideas as product differentiation, behavioral economics, marginal utility, price and trade.