In a chicken sandwich are ingredients from around the world that one person can create but the price system gathered them for us at the local supermarket.
With more than roads, bridges and railroads, our transportation infrastructure includes the reefers (refrigerated containers) that facilitate globalization.
Contracting because of online competition, Gillette’s dominance of the men’s shaving product market shows the creative destruction that e-commerce creates.
Our everyday economics includes tradeoffs, deposit insurance, supply chain, bias, human capital, income inequality, marriage markets and Federal Reserve.
For consumers and retailers, decisions about delivery speed and price involve tradeoffs with each hoping to minimize the cost and maximize the purchase.
Whether looking at the supply chain for a pencil or an iPhone 6, we see globalization because price system incentives create cooperation.
econlife®
Connecting economics with everyday life.
Located at the intersection of current events, history, and economics, econlife® slices away all of the layers that make economics boring and complex. We like economics and we would like for you to like it too.
