By Jessica Feese (Creighton University)
Anyone looking to buy a bookstore? Recent news has it Barnes & Noble is on the lookout to sell. Barnes & Noble enthusiasts may treat this as the end of the world, but just look at the facts: Barnes & Noble (B&N) is a company that sells elastic goods. In other words, there are a lot of substitutes to the company, books are a luxury, and time is money. And demand for books from Barnes & Noble has been slowly decreasing. As proven by Fortune.com, “the company’s market value is around $400 million, down about 80% from its 2006 all-time high about $2 billion”. Continue reading “Barnes & Noble or Barnes & No More?”
International oil cartel OPEC is back at its shady ways, but, thankfully, the organization is doomed to fail.
Whenever we hear the term “cartel” there is always a negative connotation involved with its use. We tend to correspond the term with the drug cartels of Mexico and people like “El Chapo,” the leader of the Sinaloa Cartel who escaped a maximum-security prison in July.
Less talked about are groups like taxicab cartels, which have been involved in passive-aggressive disputes with Uber and other ridesharing companies. Well maybe not in France after cab drivers essentially rioted because of Uber. These are just a few examples of cartels, but one that affects our lives quite a bit and has recently engaged in some fishy economics, is the oil cartel, known as the Organization for Petroleum Exporting Countries, (OPEC).
Oil is not only the magic juice that makes our cars run, it essentially makes the world run, which is why some key oil producers banded together to form a cartel.
Continue reading “Oil Cartels and Those Damn Dirty Pizza Dealers”