Posts Tagged ‘demand’

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    Why Do Gas Prices Rise Quickly and Fall Slowly?

    Jun 23, 12 • 330 Views • No Comments

    At your local gas station, you might be seeing some sticky prices. Although barrels of West Texas Intermediate (WTI) and Brent Crude have steadily gotten cheaper, the price at the pump has had a less steep downward trajectory. One economic study observed......  [read more]

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    Manufacturing and the Market System

    May 30, 12 • 338 Views • No Comments

    Adam Smith might look at recent increases in manufacturing and say, “The market works.” Here are some stories. One furniture manufacturer decided it could make consumers happier by moving back from China. Yes, it would mean paying a sander $10 an......  [read more]

  • Industries afflicted with Baumol's Disease have slower productivity growth.

    Should Supreme Court Justices Know Economics?

    Apr 1, 12 • 279 Views • No Comments

    Just some thoughts today about economics and the Supreme Court. Listening to Tuesday’s oral arguments,  I became concerned about some economic basics. Markets and insurance were key ideas. However, no one defined a market and insurance was initially......  [read more]

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    The Norwegian Butter Crisis

    Mar 25, 12 • 617 Views • No Comments

    Reserves were low, demand was high and prices skyrocketed. No, not oil. Butter. Butter demand surged in Norway several months ago when a low carb high fat diet swept the nation. At the same time, the supply of butter plunged because wet weather diminished the......  [read more]

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    A Top Selling Artist

    Mar 24, 12 • 404 Views • No Comments

    At a Christie’s auction, a painting of a candle by German artist Gerhard Richter sold for $16.5 million. A recent documentary on this 80-year-old artist shows him painting in his studio and attending gallery and museum exhibitions of his work. Neither......  [read more]