Restaurants Implement COVID-19 Surcharges
Restaurants and service industries have been severely impacted by COVID-19. Many restaurants were forced to close their doors due to stay-at-home measures and some will remain closed permanently. As supply…
Econ Everyday Classic: There’s Pea in My Coffee!
Due to a combination of increased global demand and poor harvests, coffee prices in 2011 rose some 69% to reach its highest price in over three decades. As a result,…
Econ Everyday Classic: High Cashmere Prices Left in the Dust
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…
Women Account for 55 Percent of Coronavirus Job Losses
Last month, 20.5 million people lost their jobs, sending the unemployment rate skyrocketing to 14.7 percent. Economists predict that the actual jobless rate could be even worse when factoring in…
Insurance Companies Refund Policyholders Billions of Dollars
Due to stay-at-home orders implemented around the world, malls, businesses, schools, universities, and more have temporarily closed or reduced operations. This has significantly reduced economic activity. Additionally, it has reduced…
Trolls World Tour’s On-Demand Success Could Change the Movie Industry
In early March, the movie studio Universal had already spent millions of dollars marketing its upcoming title Trolls World Tour in anticipation of its April 10th release. When the coronavirus…
Moon Mining
President Trump recently signed an executive order in support of the US opening exploration of resources on the moon and asteroids. The move follows a 2015 US law allowing for…
Frites Market on the Fritz
Like many countries around the world, Belgium is fighting a battle against the COVID-19 virus. As part of social distancing, restaurants and bars are closing down or limiting service. As…
Disneyworld Faces Longest Shutdown in its History
Disney has furloughed 100,000 theme park and hotel workers, including popular cast members. Disney is widely considered the largest employer in the nation and this furlough is expected to save…
With Students Staying Home, Empty College Towns Hit Hard by Coronavirus Crisis
College campuses all over the world have closed and have sent students home for the rest of the school year. As people practice social distancing and quarantining methods, economic activity…