This week’s everyday economics includes property rights, trade, creative destruction, entitlements, tradeoffs, conservation, externalities, price, and markets.
Shifting from the EU to Russia and the Faeroes, Russia’s embargo trade barriers changed export and import winners and losers for cheese and salmon.
Our everyday economics includes behavioral economics, trade barriers, taxes, entitlements, externalities, intellectual property and industrialization.
Just like tariffs and other trade barriers, the Russian embargo of EU cheese helped Russian cheese makers as increases in supply and demand raised prices.
The Brazilian cotton saga continues…or maybe it has ended. Our story starts with the $150 million a year that the US had been giving to Brazilian cotton growers. We were sending close to $12 million a month because Brazilian farmers…