First there was the Great Necco Wafer Panic of 2018 and now we have a Valentine’s Day candy shortage of the conversation hearts that are a national favorite.
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?…
The perverse incentives created by Venezuelan price controls result in shortages, underutilized resources, wasted time, soaring inflation and hoarding.
At the official exchange rate, Venezuelans pay 5 cents a gallon for premium gasoline while the real price is closer to one half penny a gallon. The dark purple country at the northern tip of South America (below), Venezuela has the…
The time is 8 am. During March 2012, 200 people at a depot just west of Cairo are waiting for a truck delivery of butane cylinders. One gentleman yells, “Please, I’ve been waiting for 10 days to get my cylinder–who can…
econlife®
Connecting economics with everyday life.
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