Brutal Law of Supply and Demand for Machetes: Dead People Can’t Vote
Tuesday, June 8th, 2010 Posted in Uncategorized | No Comments »The News Agency of Nigeria surveyed prices and found that a good quality machete was now selling for 400 naira ($3) compared with 800 naira ($6) before the April elections, which were marred by politically motivated violence in many states. ...
Recommended
Monday, June 7th, 2010 Posted in Uncategorized | No Comments »1. Supply and Demand for NYC Parking Spaces, The Price Is Right at $225,000, NY Times 2. Going to the Mall for an Eye Checkup, Starting at $55, WSJ 3. Pirated Music Helps Radio Develop Playlists, The Upside of Illegal Downloading, WSJ 4. ...
Price Controls Lead to Empty Shelves in Zimbabwe
Monday, May 31st, 2010 Posted in Uncategorized | No Comments »NY Times: Robert G. Mugabe has ruled over this battered nation (Zimbabwe), his every wish endorsed by Parliament and enforced by the police and soldiers, for more than 27 years. It appears, however, that not even an unchallenged autocrat can ...
Market-Clearing Pricing vs. The Alternative
Monday, May 24th, 2010 Posted in Uncategorized | No Comments »Wikipedia has a pretty good summary of basic microeconomic principles in its entry on "Supply and Demand," including the graph above showing market clearing. In contrast to simple, efficient, spontaneous market-clearing prices, the Cato Institute provides an example (with this ...
Melodrama and Villains vs. Supply and Demand
Friday, May 21st, 2010 Posted in Uncategorized | No Comments »With all the commotion in the media and in politics about the high price of gasoline, is there really some terribly complex explanation? Is there anything complex about the fact that with two countries-- India and China-- having rapid economic growth, ...
Investigate Big Congress, Not Big Oil
Friday, May 21st, 2010 Posted in Uncategorized | No Comments »The simple fact is that the prices of oil and gasoline are determined by supply and demand—which neither private oil companies nor speculators have any power to dictate in their favor. If they had such market mastery, then why didn't ...
Economics Education
Thursday, May 20th, 2010 Posted in Uncategorized | No Comments »1. From today's Washington Post "12th-Graders Show Strength in Economics": "Forty-two percent of 12th-graders nationwide scored at the proficient level or better on the economics test, meaning they could handle challenging subject matter. In contrast, just 23% of 12th-graders hit the ...
2004 Flashback: Speculators Got Blamed Then, Too
Thursday, May 20th, 2010 Posted in Uncategorized | No Comments »Business Week (August 30, 2004) -- Are Speculators Driving Up The Price Of Oil? There is no doubt most of oil's huge price leap -- up 40% in the past year, to $45 a barrel (see chart above) -- is ...
Big Oil Is Not the Problem, It’s Big Government
Tuesday, May 18th, 2010 Posted in Uncategorized | No Comments »Congressional ignorance of basic laws of supply and demand is at once bizarre, breathtaking and frightening. For example, in a speech delivered by New York Democratic Sen. Chuck Schumer on May 13, he urged the U.S. to force Saudi Arabia ...
10 + Month housing supply
Thursday, May 13th, 2010 Posted in Uncategorized | No Comments »I was watching the news today. What was talked about was that nationally we have over a 10 month supply of homes on the market. What will it take to sell these houses? Lower prices! I am still ...
