I think everyone remembers the "great toilet paper shortage" of 2020, when toilet paper all of a sudden turned into one of the most coveted items in … [Read more...] about Oh baby… a look at the baby formula shortage
supply and demand
Soaring Gas Prices
About 25 years ago, you could buy gas for about a dollar per gallon. Now, for the first time in history, a gallon of regular gas in the United States … [Read more...] about Soaring Gas Prices
Car Buying: The Changing Calculus of Used vs. New
Months ago, my car broke down, and it needed some significant repairs. So, I sold it to my mechanic for about $500. Suddenly carless, I reflected on … [Read more...] about Car Buying: The Changing Calculus of Used vs. New
The Supply and Demand Model is Wrong
We’ve all heard economists and analysts utter the expression, “It’s all simple supply and demand!” when trying to explain some market phenomenon. Maybe … [Read more...] about The Supply and Demand Model is Wrong
Supply and Demand Curve Explained
If you have ever taken an economics course, you have likely encountered supply and demand. While these curves are easily drawn with the stroke of a pen, … [Read more...] about Supply and Demand Curve Explained