In 2009, the voters of Oakland, California, passed a measure to tax medical cannabis (marijuana), effectively legalizing it. In 2010, the City Council adopted regulations permitting industrial-scale marijuana farms with no size limits but requiring each to pay a $211,000 per year fee (Matthai Kuruvila, “Oakland Allows Industrial-Scale Marijuana Farms,” San Francisco Chronicle, July 21, […]
During the winter of 2004–2005, wholesale gasoline prices rose rapidly. Although retail gasoline prices increased, retailers’ profit per gallon fell. The difference between price and average variable cost for selfserve regular gasoline averaged 7.7¢ a gallon in the first quarter of 2005 compared with 9.1¢ for all of 2004. In addition, many gasoline retailers exited […]
The Internet is affecting holiday shipping. In years past, the busiest shipping period was Thanksgiving week. Now as people have become comfortable with e-commerce, they put off purchases to the last minute and are more likely to have them shipped (rather than to purchase locally). In December 2004, FedEx handled a 40% increase in packages […]
The African country Lesotho gains most of its export earnings—90% in 2004—from its garment and textile factories. Your t-shirts from Wal-Mart and fleece sweats from J. C. Penney probably were made there. In 2005, the demand curve for Lesotho products shifted down precipitously due to increased Chinese supply with the end of textile quotas on […]
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