Tuesday's Assorted Links
John Deere, Paris Olympics, college students, financial assistance, and taxing the rich
Hi y’all! Here are five stories from this week that contained some neat applications of economic principles or are related to teaching:
John Deere will lay off around 600 employees in Iowa and Illinois due to reduced demand and declining farms in the US [CNN Business]
Air France expects a revenue shortfall of $172-$195 million because of tourists avoiding Paris during the Olympics [Bloomberg]
College students study enough; they need more of a social life [The Washington Post]
Nearly half of Gen Zers (ages 18-27) rely on financial assistance from parents and family [Bank of America]
The IRS said it has collected $1 billion in back taxes from wealthy taxpayers who were cheating the system [Associated Press]
Few topics spark as much passionate debate as tipping. An anonymous influencer has taken this to the next level by refusing to tip at restaurants and bars in LA, documenting it all on social media. Their actions have reignited discussions about tipping, highlighting the economic issues at play. From the fear factor in pre-tipping to the role of technology in "tipflation," and the impact on workers and businesses, the debate is far from over.
The Economics of Tipping
Few topics spark as much passionate debate as tipping. Whether it’s at the dinner table or in the comment section of social media posts, people have strong opinions on how much and which workers should and shouldn’t receive tips. Honestly, people just seem fatigued at this point. As a result, Americans are tipping less despite growing requests for more gratuities. One man has personally taken the trend to the limit and has gone viral for not tipping at all, regardless of the occasion.
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Some really interesting news here. Thanks!
We're all over here focused on the economy and increasing political polarization, while the decline in partying is the real national crisis nobody is talking about. I had to fight for that right!
(OK, mostly sarc, but like ... 45% serious)