Rather than gouging or profiteering, higher prices are best described as the incentives we need to boost the world’s face mask supply.
The Big French Fry Crunch
Because of bad weather in parts of Canada and the major U.S. growing states, we could have a potato shortage that creates a French fry crunch.
Why Romaine Lettuce is Like a 737 Max
In 1998, a batch of pencils had to be recalled. Destined for grade school classes, the pencils said “Too Cool To Do Drugs.” Problems developed when the kids sharpened the pencils and instead they said “Cool To Do Drugs.” When…
How a Common Application Affected College Admissions
At highly selective schools, 2019 college admission rates were pretty low: Harvard: 4.5% Yale: 5.91% Stanford: 4.3% in 2018 (They are no longer releasing the number.) But we are looking at a tiny proportion of the higher education population. At…
Why World Series Ticket Prices Are Soaring
Because baseball fans from Washington D.C. have waited 86 years for their team to reach the top, their World Series ticket prices are soaring.
The Lid on the Pot Industry
While states find it’s tough to predict marijuana tax revenue, they can assume that higher rates will nudge consumers toward black markets.
The Downside of Vegan Leather
With meat demand going up and leather demand going down, the cowhide industry has a devastating supply and a demand problem.
Why An Economist Might Like a Restaurant Queue
Because a restaurant queue can help supply and demand, some eating establishments create the signal that it sends to diners.