August 14, 2015
Expensive trophy hunting packages demonstrate how the price system gives a value to animals that helps to preserve them.
August 10, 2015
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.
August 6, 2015
Shown by ant groups successfully taking a Cheerio to a nest, sometimes the wisdom of crowds depends on the brains of an individual leader.
August 5, 2015
Displaying a shift in comparative advantage, some Chinese textile manufacturers are locating their factories the the U.S. rather than China.
July 31, 2015
Aquaculture created the comparative advantage that led to shrimp mass production and global trade that diminished the domestic shrimp industry.
July 27, 2015
Because the externalities created by free shipping include the need to cut costs, Bubble Wrap will need to be replaced by cheaper protective packaging.
July 26, 2015
A minimum wage hike causes labor intensive fast food restaurants to exit the market, capital intensive restaurants to enter and the number of jobs to drop.
July 21, 2015
Left to fluctuate freely, a price can tell us information about social norms, efficiency, technology, incentives, quality and supply and demand.
July 20, 2015
July 16, 2015
The currency part of a money supply needs three basic characteristics that relate to value and also usually a design that reflects a national identity.
July 13, 2015
When Starbucks says it's raising prices, the increases depend on the U.S. location because of the difference in purchasing power parity.
July 12, 2015
The cost of a natural disaster tends to be higher in dollars in developed nations and in victims in the developing world.