Opinion
NC business owner offers lesson in comparative advantage
Danny Batten doesn't need to spout economic theory to put a key free-market principle to work for his New Bern and Edenton stores.
Opinion
U.S consumers: corn-fed or force-fed?
Food or fuel? This is the decision that policy makers appear to be facing in light of the U.S. government's announced policy to increase use of ethanol as a replacement for petroleum-based fuel in the United States. The government's policy means devoting more and more domestic agricultural assets to the production of corn for conversion to ethanol. We should consider both the vulnerabilities and the trade-offs associated with this decision.
Opinion
A Christmas Bedtime Story for Economists
The Christmas season is packed with all kinds of lessons. With that in mind, it is worth pointing out that Santa is no slouch when it comes to economics. Santa, alone among holiday figures, has learned to apply the economic concept of comparative advantage to one of his most important functions—his holiday gift distribution system.
Opinion
Orange You Glad I Didn’t Grow Potatoes?
Most of us do not want to become Robinson Crusoes, responsible for making, finding, or growing everything we need, use and consume. When we picture Robinson Crusoe, we picture a solitary character spending most of his time putting together the bare necessities of survival. The Robinson Crusoe story demonstrates why, given a choice, most of us would not want to be self-sufficient.
