Hi y’all! Here are five stories from this week that contained some neat applications of economic principles or are related to teaching:
The average price of daycare and preschool in the U.S. increased 6% last month, nearly double the overall inflation rate (3.2%) [The Wall Street Journal]
This map from Cornell University tracks labor strikes across the United States [Cornell School of Industrial and Labor Relations]
The demand for Lionel Messie has impacted all sorts of markets, including jersey sales, ticket sales, and streaming subscriptions [Morning Brew]
How much would you have to be paid to switch jobs? The average reservation wage increased to $78,645, an 8% increase from last year [CNBC | Federal Reserve Bank of New York]
It’s tough to do well in school when you can’t get to school. A new analysis finds at least one significant school bus driver shortage in every state [USA Today]
Hello to our newest subscribers! Over the past week, we’ve had 88 new people join the newsletter. If you’re new around here, be sure that you’re sharing this newsletter using the blue buttons so that Substack can keep track of your referrals and I can send you goodies!
Monday’s newsletter looked at Disney's $250 million decision to close the Star Wars Galactic Starcruiser. Despite spending hundreds of millions to build the one-of-a-kind experience, Disney decided to focus on the opportunities ahead of them instead of all the money they had sunk into the hotel.
May the Economic Force Be with You
In the galaxy of economics, rational decision-making is like charting a course through the stars. It's a journey fraught with choices, balancing costs and benefits in the pursuit of maximum gain while avoiding the heavy pull of losses. And yet, there are two concepts that often shape these economic decisions.
Recently, everyone was talking about the Taylor Swift boost to output (and inflation in some countries). I wonder if there's a US Messi effect :D