Tuesday's Assorted Links
Remote instruction, high-paying degrees, chocolate prices, the Bank of Japan, and an Apple lawsuit
Hi y’all! Here are five stories from this week that contained some neat applications of economic principles or are related to teaching:
The more time students spent in remote instruction, the further they fell behind [The New York Times]
The highest-paying college majors, 5 years after graduation [CNBC]
Bad weather, bean disease, and a lack of investment in new trees have made cocoa harvests dreadful, resulting in massive price increases [Morning Brew]
The Bank of Japan raised short-term rates to 0% as the country’s economy finally showed some signs of growth after years of low inflation and wage stagnation [Associated Press]
DOJ sues Apple over iPhone monopoly in landmark antitrust case [The Washington Post]
For decades, the 6% commission was as much a fixture of the home-selling process as the "For Sale" sign itself. A recent $418 million settlement is challenging this status quo, aiming to bring transparency and competition to the real estate market.
The Undoing of Real Estate's Price Fixing Pact
Picture this: you’re selling your house and your agent lets you know they have found an interested buyer. You’re excited, but then you remember that the standard commission for real estate agents involves a whopping 6% of the sale price, often split between the buyer’s agent and the seller’s agent. That’s a hefty chunk of change. But why has that commission been so stubbornly consistent for so many Americans, despite the ever-changing landscape of the ways we buy and sell things?
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