Posts Tagged ‘demand’

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    Manufacturing and the Market System

    May 30, 12 • 231 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 • 201 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 • 452 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 • 288 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]

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    Our Shopping Habits

    Feb 20, 12 • 335 Views • No Comments

    Our story starts during the 1990s. When Procter & Gamble (P&G) first advertised Febreze as a room deodorizer, they thought it would be an instant success. However, the households that most needed it did not respond and sales were tepid.  Realizing...  [read more]