Posts Tagged ‘shortages’

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    Just Desserts

    May 27, 12 • 313 Views • No Comments

    Our story begins in 1920 with some ice cream, some chocolate and a stick. A candy maker decided to coat the ice cream with the chocolate, insert the stick and freeze it. Patenting the stick idea, he created the first ice cream bar and called it a Good Humor...  [read more]

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    Venezuela’s Price Controls

    Apr 22, 12 • 442 Views • No Comments

    Reading that a Venezuelan retiree did not mind the food lines, I started thinking about how President Chavez’s price controls have changed incentives. The retiree, who has more time than money, now has the incentive to stand in line. Meanwhile, a...  [read more]

  • Peanut prices respond to demand and supply

    Peanuts or Cotton?

    Oct 12, 11 • 251 Views • No Comments

    Farmers decided to plant fewer peanuts when cotton prices soared. The result? Now peanut prices are skyrocketing. Here is the story. Perhaps it all began with higher cotton prices. Responding, peanut farmers switched some acreage to cotton. Combine that...  [read more]

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    A Water Dilemma

    May 8, 10 • 316 Views • No Comments

    Last week, the Boston area had undrinkable water for several days. Predictably, bottled water sales soared as did bottled water prices in certain stores.  Equally predictably, politicians condemned the increases. Most economists, though, disagreed....  [read more]

  • Who Should Get A Kidney?

    Dec 23, 09 • 277 Views • No Comments

    Some say that it is unethical to pay someone for a kidney while others say it is unethical to use a method (a government list) that makes fewer donor organs available. As always, choosing is refusing. The debate continues in a recent NY Times article:...  [read more]