Shrinkflation - The Economics of Shrinking Sizes

Visiting Elaine Schwart's Blog again. 

Excerpt:

"Economists have hypothesized that consumers care more about rising prices than shrinking packages. Paying much more attention to price (and the law of demand), we monitor inflation. Not only are we aware of its ups and downs but also we perceive the original price as an “anchor” that influences our response to the price increase. By contrast, quantity is less of an anchor."

Image credit - BBC

I, Pencil

The classic parable of Leonard E. Read first published in 1958. Read the full essay here.

Excerpt:

"I, Pencil

By Leonard E. Read

I am a lead pencil—the ordinary wooden pencil familiar to all boys and girls and adults who can read and write.

Writing is both my vocation and my avocation; that’s all I do.

You may wonder why I should write a genealogy. Well, to begin with, my story is interesting. And, next, I am a mystery —more so than a tree or a sunset or even a flash of lightning. But, sadly, I am taken for granted by those who use me, as if I were a mere incident and without background. This supercilious attitude relegates me to the level of the commonplace. This is a species of the grievous error in which mankind cannot too long persist without peril. For, the wise G. K. Chesterton observed, “We are perishing for want of wonder, not for want of wonders...” 

Image credit -  FEE

'100% Turtle Friendly' Rice Straw

Yesterday I had chai and bagel with cream cheese with my daughter at Coffee Bean. She told me about the RiceStraws of Coffee Bean and Tea Leaf's Malaysia. Here is the full story

Excerpt:

"Did you know The Coffee Bean & Tea Leaf Malaysia is using RiceStraws to replace the plastic and paper straws?

RiceStraws is made of 100% natural ingredients and able to completely decompose in less than 90 days. It is sustainable, edible, and biodegradable.

CB&TL has implemented many practices to reduce waste and contribute to a healthier, happier world. This move shall further reaffirm its pledge to care for the environment. The beautiful tagline of "100% Turtle Friendly" enables coffee lovers to establish a closer caring and awareness with marine life."

Let us define our own sustainability practices. US. NAQLI. AQLI.

Image credit - WeirdKaya

Greek's Little O (Omicron) and Inflationary Pressure

 Recent post in the IMF Blog. Excerpt:

"With inflationary pressures intensifying and Omicron generating new uncertainties, monetary policymakers are facing new and challenging tradeoffs."

Other Cartoonists expression on the Omicron here.

Samsung Galaxy Z Fold3 5G - Bending the Smartphone Industry By Half

Samsung. The Archenemy of iPhone. 4K and the Stylus pen (SPen) for doodling. 120hz refresh rate. Based on the review, it is a great productivity device. I will wait for ZF4.

Watch the video below unboxing Galaxy Z Fold3. The comments are useful as well. 

Source: Youtube

Image credit - Wikipedia. Fold (Geology). Alpine deformation in Greece. I wonder if Samsung think of Z and S folds of geology in the design.

Structural geology - Internet.

Tuna and the Subway Footlong

Another hilarious yet meaningful economic lesson from Elaine Schwartz's Blog. You can read here.

Excerpt:

"Footlong eaters sued Subway.

During 2013, an Australian teenager posted on Facebook a picture of his 11-inch Subway Footlong. Feeling cheated (I guess), two New Jersey guys sued, others followed, and we wound up with a class action suit. Subway said the problem was inconsistently stretched bread. Eventually a court threw out the case. (An attorney said that everyone ate the evidence.)

Now, Subway is back in court."

Image source: Hypebae. 'Subway responds to tuna fake lawsuit with discount.'

The King's Salad

Dr. You Yee Xing, a young scientist in Malaysia, has successfully created a Ulam Raja (Cosmos caudatus) supplement that is rich in polyphenols and antioxidants to prevent senile dementia in the elderly. Ulam Raja literally means the 'King's Salad' in Malay. The leafy part of Ulam Raja is commonly eaten raw and consumed with rice. The young leaves of Ulam Raja has a subtle peppery tinge. The full story here.

Source: Internet