A Spirited Trade War
In the 20 years between 1997 and 2017, US exports of Kentucky bourbon whiskey tripled to a value of $450 million. However, in the second half of 2018 exports of…
Retail Apocalypse
Nearly 10,000 retail stores announced closures in 20191. Payless ShoeSource alone accounted for 2,500 closures as part of the company’s complete liquidation. Other large retailers, like J. C. Penney, are…
Will The Robots Take All Our Jobs?
The past ten years have seen widespread concern about the effect that artificial intelligence (AI) and sophisticated robotics might have on employment. The most pessimistic prognosticators assert that strong and…
CNBC: “Amazon’s cloud business bombards the market with dozens of new features as it looks to preserve its lead”
“If keeping track of all the new stuff feels overwhelming, that’s kind of the point. Amazon wants people to feel like it’s coming out with so much that no one…
Pumpkin Spice in Everything
Every September we begin to see the signs that the fall season is on the horizon. The temperature starts to cool, the leaves start changing colors, and Starbucks begins selling…
The Economics of Bans on Plastic Straws
Whole Foods announced on May 20 it would stop offering plastic straws in all of its stores. Other companies such as Starbucks and McDonald’s are taking the same steps. Meanwhile,…
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…
NBC News: “No pay, no spray: Firefighters let home burn”
This article may be a bit dated, but it’s an intriguing story about the difficult moral situations that sometimes come about in markets. In most urban areas, property or sales…