It’s April and spring, and it seems that crocuses and examples of oligopolistic behavior are busting out all over. Last week’s example was Iraq announcing a 30-day suspension of oil sales. This week’s example was Continental Airlines announcing a fare…
University athletics does follow economic incentives
What are the economic lessons involved in the University of Minnesota’s varsity sports restructuring? If you want to talk about a question that opens a can of worms, this is one. But economics is the study of how people make…
One oligopolist can only do so much
Contrary to what many people think, it’s not always easy being a monopolist. It’s even harder being an oligopolist. That’s the lesson Iraq is going to learn from Saddam Hussein’s announcement earlier this week that his country will halt crude…
California ban on pulling weeds tugs at larger issues
California may ban pulling weeds by hand. Don’t worry. People pulling crabgrass out of their rose bushes aren’t going to be handcuffed and strip-searched. But the proposed law would ban hand weeding of most vegetable crops by hired farm workers.…