Blog — perceived value of goods
Why is Zimt so expensive? (Hint: It isn't.)
animal agriculture externalities fair trade microeconomics perceived value of goods pigovian tax vegan zero waste
As expressed in a previous blog post, the purpose of Zimt is not to make chocolate. There are a number of topics that I’d like to delve into and, this one provides a great overview for the premise of these. It’s a topic that, unless you’re an economist (or just someone who can’t stop won’t stop analyzing), you likely don’t think about too much- at least not in a broad sense. Externalities are costs or benefits (spillover effects) to a third party, who is not directly involved in the primary market transaction, resulting from either the production and/or consumption of...