Tuesday's Assorted Links
Trade deficit, gas station turf wars, emergency expenses, store brands, and consumer confidence
Hi y’all! Here are five stories from this week that contained some neat applications of economic principles or are related to teaching:
Trade deficit soared 94% in November and was higher than a year ago, despite tariff efforts [CNBC]
Inside America’s gas station turf wars [The Hustle YouTube]
Less than half of Americans report having enough cash to cover an emergency expense of $1,000 [Bankrate]
Budget-conscious US shoppers spent a record $283 billion on in-store brands, up 3.3% from 2024 [Food Dive]
US consumer confidence fell to its lowest level since 2014 [Associated Press]
This week’s article looked at the economics of the parking chair, that folding chair sitting in a shoveled spot after a snowstorm. What looks like a quirky regional tradition is actually a great example of informal property rights, where labor, social norms, and incentives shape behavior without formal enforcement.
Pull Up a Parking Chair
You’re driving down a residential street after a heavy snowstorm, scanning both sides and hoping for an open spot. Most of the curb is buried, but then you see it. A clean rectangle of pavement carved out of the snow. Someone clearly shoveled recently, and your car would fit perfectly.
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Ah yes -- the "dismal science" -- Malthus rides again!