Chicken Little is an Increasingly Rare Bird

Chicken Little is an Increasingly Rare Bird

By Michael Coon  / 13 April 2023
Photo by Artem Beliaikin on Unsplash Production of boiler chickens (those raised for their meat, not eggs) in the US...
EVs: Driving Change at Convenience Stores

EVs: Driving Change at Convenience Stores

By Veronica Horton  / 11 April 2023
Photo by John Cameron on Unsplash The United Nation’s (UN) recent report on the impending changes the world is facing...
Who’s In The Driver’s Seat: The Changing Dynamics of Auto Production

Who’s In The Driver’s Seat: The Changing Dynamics of Auto Production

By Veronica Horton  / 4 April 2023
Photo by Possessed Photography on Unsplash If you were shopping for a new car during the pandemic or even just...
China’s Population is Declining – Too hot, too cold, or just nice for its Economic Development?

China’s Population is Declining – Too hot, too cold, or just nice for its Economic Development?

By Sunita Kumari  / 23 March 2023
On Tuesday, January 17th, 2023, China’s National Bureau of Statistics released the country’s population data to be 1.41175 billion in...
The Externalities Effect of Child Firearm Fatalities in the States

The Externalities Effect of Child Firearm Fatalities in the States

By Sunita Kumari  / 21 March 2023
A study published on July 8th, 2022 by the Kaiser Family Foundation (KFF) analyzed how gun fatalities among children and...
Why is Everything Getting So Expensive?

Why is Everything Getting So Expensive?

By econwpadmin  / 16 March 2023
Prices on everyday products like groceries and diapers have increased dramatically in the last couple of years, with inflation often...
Understanding the U.S. Labor Market – A January 2023 Snapshot

Understanding the U.S. Labor Market – A January 2023 Snapshot

By Sunita Kumari  / 9 March 2023
Photo by Luis Melendez on Unsplash According to the Federal Reserve Economic Data (FRED) website, April 2020 recorded the highest...
The New Economics of Car Production

The New Economics of Car Production

By Veronica Horton  / 7 March 2023
Photo by Dan Dennis on Unsplash Engineers working at some of American car maker Ford’s facilities in Europe might be...
Looming Water Crisis – What can YOU do to Conserve Water?

Looming Water Crisis – What can YOU do to Conserve Water?

By Sunita Kumari  / 23 February 2023
www.britannica.com Looking at the droplet in the infographic, only 2.6% of the world’s water supply is fresh water, while the...
U.K. Economy Three Years after Brexit

U.K. Economy Three Years after Brexit

By Sunita Kumari  / 7 February 2023
Photo by Jamie Street on Unsplash Brexit is the term used to mark the event when the United Kingdom (U.K.)...

Externalities

Rockets’ Red Glare

As many communities canceled Fourth of July celebrations and fireworks shows, more Americans chose to celebrate at home. This shift from public celebration to private parties led to a significant increase in firework sales. Some areas reported a doubling of…

NASA Finds Significant Decreases in China’s Air Pollution

NASA finds that COVD-19 has drastically reduced China’s air pollution. Through usage of the Ozone Monitoring Instrument (OMI) on NASA’s Aura satellite, NASA measured NO2 (nitrogen dioxide) levels in Wuhan, China. Nitrogen dioxide is emitted from the burning of fuel, primarily from transportation vessels and power plants. Every year, celebrations of the Lunar New Year normally result in business closures from late January to early February. During this time, NO2 levels drop and then eventually rise again. However, during January and February of 2020, China saw a reduction in NO2 levels of 10% to 30% below averages and expectations. Additionally, NO2 levels have not rebounded since the conclusion of the Lunar New Year Celebration.

Plastic Pollution Problems

Each year, millions of tons of discarded plastic makes its way into the world’s oceans. Approximately 80 percent of that waste was originally discarded on land, with the remaining 20 percent being discarded at sea1. Even more discarded plastic collects…

Food & Wine: “The Craft-Fishing Revolution Is Here, Now”

You probably don’t expect to learn much about economics in Food & Wine magazine, but here is a great story about the “craft fishing” industry. It includes economic concepts such as “catch shares” (to decrease overfishing), economies of scale, and product differentiation and improving quality to move a market from perfect competition to monopolistic competition. It details how one fisherman has worked to change the supply chain to a direct-to-consumer model that provides the consumer (restaurants) with higher quality fish that they can sell to discerning diners at higher prices, and also helps the fishermen ensure adequate compensation for their efforts.