Tragedy of the Commons

Head West, Young Man…Unless You Need Water.

Michael Coon
17 August 2021

In the face of climate change, droughts, and increased demand from urban/residential areas, the US Bureau of Reclamation is ordering farmers to significantly cut their water usage. A major source of water for the American West, the Colorado River has…

The Battle Over Bottling

Michael Coon
5 March 2021

After a 2-year legal battle, Seven Springs Water Co. was approved to pump 1 million gallons per day from Florida’s Ginnie Springs to supply water to Swiss food and beverage conglomerate, Nestlé, for their bottling operations in the area. The…

Ribeye in the Sky

Michael Coon
16 December 2020

This year’s hunting season in Alabama marks the second year that hunters will have a new game to pursue. In 2019 Alabama became the third state east of the Mississippi River to allow for hunting of the Sandhill Crane. Once…

Econ Everyday Classic: High Cashmere Prices Left in the Dust

Michael Coon
14 May 2020

Once a pinnacle of luxury clothing found only in high-end fashion stores, by 2006 cashmere sweaters, which typically sold for hundreds of dollars, could be found in big box stores for as little as $20. The reason for this substantial price drop: increased production and competition from China. The cashmere industry has been around for centuries. Historically, however, Chinese and Mongolian herders exported the raw fiber to Europe, where it was spun and converted into clothing. Beginning in the 1980’s, China made a charge toward industrialization and the market economy. One area of rapid growth was the textile industry.

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

David Switzer
6 December 2018

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.

Chicken Little is an Increasingly Rare Bird

EVs: Driving Change at Convenience Stores

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

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

The Externalities Effect of Child Firearm Fatalities in the States

Why is Everything Getting So Expensive?

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

The New Economics of Car Production

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

U.K. Economy Three Years after Brexit