If economics is supply and demand, wouldn’t it be useful for companies if they could pull demand out of a hat; if they could create new marketplaces out of thin air, instantly cashing in on the first-mover advantage. There they would stand, titans of industry, as the lone player in a market.
demand's archives
TurmOil: Against Intuition, Gasoline Prices Rise During Recession
So naturally, when retail gasoline prices spiked 62.7% since December 29, 2008, amidst a severe recession, I wanted to know why. Put another way, average U.S. prices at the pump have increased more than a dollar per gallon. Intuitively, we know this isn’t a positive event for economic recovery. But some say the increase in gasoline demand, and thus the price, is an indicator of economic recovery.
Glossary Tease – Say’s Law
In the “Surplus Wit” tab of the site navigation you will find a glossary meant to amuse AND educate. The following is a glossary tease. Check out the rest of it and please share with colleagues, friends, and family!
Lessons from ‘Raising Arizona’
Nathan Arizona, Sr.: What are you after?
Leonard Smalls: I’ll give you an idea. As a pup, I myself fetched $30,000 on the black market.
And that was in 1954 dollars.
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