Environmental Economics
The cromulent economics blog
recent posts
Category: Food and Drink
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I got way too excited about this…which worries me. Six entrepreneurs, five of whom are apparently Ohio State graduates, have founded a sustainable distilling company in Colorado: Marble Distilling. Their slogan? DRINK SUSTAINABLY! My life is complete.
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Potential Econ 101 Exam Question: Suppose the supply of lower-wage workers suddenly decreases. a) What is the effect on wages and employment in sectors dependent on lower-wage workers? b) What is the effect in output markets dependent on employment of input markets that employ lower-wage workers? In your answer please use basic supply and…
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I am not opposed to the pursuit of private money to fund academic research, in principle. Unfortunately, though, such private money sometimes comes with strings attached. Even if those strings are not pulled, there is the risk of the perception of non-objectivity when private organizations fund basic research at universities…and the consequences can be significant…
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Philip Bump of The Fix at the Washington Post addresses "The national economic implications of a taco truck on every corner": A supporter of Donald Trump appeared on MSNBC's "All In" on Thursday night to offer a vision of a bleak, delicious future. "My culture is a very dominant culture, and it's imposing — and it's…
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Do all industries react like this when their risky product is recognized as such? It may seem obvious that taxing sugary drinks causes people to drink less of them. But that’s actually controversial. Now a new study out of Berkeley, Calif., adds to the evidence that our intuition is right. Researchers followed residents of several low-income…
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With apologies to my loyal readers (OK, just John) for my intermittent posts, I spent the last week doing some 'field research' in the Florida Keys. My goal was to observe the effects of climate change first hand. And let me tell you my field observations are revealing. It's freaking hot in August in the Keys. …
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One of the fundamental determinants of supply is the input price. If the price of an input increases, the supply of the output decreases (shifts left): Here's a real world example: Starbucks has hiked its prices just a day after increasing staff pay. The cafe giant announced that the price of all brewed coffees will…
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No way to pass up posting a tragedy like this: The front of the Busch beer truck then struck the Frito-Lay truck, prompting the Frito-Lay truck to overturn and spill beer and chips onto the roadway, according to FHP.
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Over the past decade, there has been a boom in bourbon sales (John's Kentucky relatives rejoice!). The demand increase has driven an increase in prices and move toward substitutes, like single-malt scotch. Unfortunately for scotch substituters, the long-time attraction of scotch has been its long aging process and rare commodity status, causing inelastic supply of scotch…
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Professors David Just and Brian Wansink of Cornell's Charles H. Dyson School of Applied Economics and Management, re-examined national data from 2007 to 2008 describing people's food habits based on their body mass index (BMI). They discovered, that for all but the most overweight and underweight individuals, the consumption of soda, candy and fast food…
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