The impact of a recession might not be entirely what we expect.
A recent study from the University of Ottawa suggests that we sleep more during a recession. Canadians slept two hours and 34 minutes more per week.
Hypothesizing that it makes people happier, a U.K. hairdresser saw a 67% “surge” in blond hair dye sales.
Daniel Gross believes that Americans, in what he quotes a sociologist as calling the “great reset”, want to be healthier. As a result, they are buying more vitamins.
Rather interestingly, perhaps contradicting the healthy theory, Daniel Gross also points out in the same Slate article that McDonald’s sales rose during the recession.
Finally, I heard during a podcast that because we vacation less during a recession, shark attacks have diminished.
The Economic Lesson
Does all of this take us back to demand, supply, and prices? During a recession demand and supply shift, mostly downward, but not for everything.