Over the past 50 years, Americans have nearly doubled their annual average turkey consumption from 8.2 pounds per person in 1970 to 16.1 pounds per person in 2019. During this period, many Americans have substituted turkey as a leaner, healthier alternative to other animal proteins…
Holiday gatherings, the COVID-19 surge, and the sunk cost fallacy: Why you should cancel your Thanksgiving travel plans even though you’ve already purchased non-refundable air tickets. Coronavirus cases are surging out of control. In many states, hospital beds are nearly full, and health care workers…
The impact of the coronavirus pandemic on the dental industry has been severe in the United States. During March and April of 2020, over 50% of dental workers were laid off. Dental facilities were forced to close while they implemented safety procedures to reduce or…
Abstract: The state of the U.S. steel industry is often a bellwether of sorts on the state ofthe economy in places like Pennsylvania, where many depend on the industry for theirlivelihood. So, it was no surprise that as a presidential candidate, Donald Trumppromised to bring…
The COVID-19 pandemic caused some of the fastest, biggest shifts of supply and demand curves in history. In this episode of the Econ Café 2020/21 podcast, authors Michael Mandel and Sean Flynn explains what it all means. First, we talk about how the demand schedule…
Abstract: The recent announcement by the U.S. Commerce Department that in August,the United States recorded its largest trade deficit in 14 years drew mixed reactions fromanalysts and economists. Some voiced concern that the trade deficit would represent adrag on the economy, while others viewed the…
Japan, like the rest of the world, is struggling to get its economy back on trackfollowing closures related to the COVID-19 pandemic earlier this year. Unlike manycountries however, Japan is highly dependent on exports for economic growth, a situationthat has the potential to be especially…
The impact of the coronavirus pandemic on education has been widespread. CBS Evening News reports that this fall over 12 million grade school students will be working remotely, “80% of the country’s largest school districts are moving to remote learning”. This is a major adjustment for…