Supply and Demand: Banana Economics

At my local supermarket, bananas are 69 cents a pound while Red Delicious apples, grown much closer to home, are $1.49 per pound. As banana writer Dan Koeppel points out, “That bananas have long been the cheapest fruit at the…

Demand and Supply: The Ethanol Mandate

Several years ago, when former Treasury Secretary Lawrence Summers walked past me, I stopped him with a question. “What is the most important economic idea to teach my students,” I asked. Without missing a beat, he said, “the power of…

The Price System: Health Care

The price system is rather amazing. Please imagine for a moment that you heard a gallon of gasoline was $1.50. First you would think, “cheap!” Then you might rush to fill your tank. Or, told that a diamond ring was…

Green Blog: The Butterfly Effect

By Amy Tourgee, guest blogger, Kent Place School alumna and Environmental Studies undergraduate at Princeton University One aspect of environmental science that has always been scary to me is the intense interconnectedness of a system.  For example, an ecosystem can…