Posts Tagged ‘supply’

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

    Should Supreme Court Justices Know Economics?

    Apr 1, 12 • 376 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 • 802 Views • 1 Comment

    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 • 522 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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    High and Low Gas Prices

    Mar 16, 12 • 521 Views • No Comments

    Why is the average price of a gallon of regular gasoline in Wyoming close to $3.36 and New York, $4.00? Location and regulation. Wyoming produces oil, it refines it, and, its taxes are among the lowest in the country. Also because of good location and less......  [read more]

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    Chinese State-Run Firms

    Feb 24, 12 • 533 Views • No Comments

    Where would your cell phone, your car, your gasoline, your savings account and the TV station you watch all have one thing in common? China. Called state capitalism, 45% of the Chinese economy is owned or controlled by the government.  With 655 million......  [read more]