A recent tax bill has increased income inequality in Fairfield County. Higher-income households, concentrated in towns like Greenwich, have seen rising after-tax incomes due to tax cuts. Lower-income households, concentrated in towns like Bridgeport, have experienced stagnant or declining incomes as eligibility for government benefits has been reduced.—ft.com
Category: Economics in the News-Micro
Patents on Semaglutide Due to Expire Next Year
Patents on semaglutide—the active ingredient in Wegovy and Ozempic, the widely popular weight-loss treatments made by Novo Nordisk, a Danish pharma giant, are due to expire next year.—economist.com
How Does Prize Money Work in Tennis?
Tennis players participating in tournaments are compensated based on the round in which they lose, with payouts escalating exponentially as the player continues to win. A first-round loser at the 2025 Miami Open received $23,760, the tournament runner-up won $598,000, and the champion won $1.12 million.—sportico.com The Darker Side of Tennis Players’ Earnings Tennis has … Continue reading How Does Prize Money Work in Tennis?
Income Tax Thresholds in the UK
In 2022, the UK froze income tax thresholds instead of raising them each year in line with inflation. The current Chancellor (Finance Minister) is being advised to extend the freeze for another two years.—theguardian.com
Minimum Wage Rise Risks Job Cuts and Inflation
The Isle of Man plans to raise the hourly minimum wage from £12.25 to £13.46 in April. A Chamber of Commerce survey found that 21% of firms may cut staff and 8% may freeze hiring. Prices are expected to rise too.—bbc.com, The currency of the Isle of Man is the Manx pound, which shares the … Continue reading Minimum Wage Rise Risks Job Cuts and Inflation
Tax Cuts in India
On September 29, 2025, life-saving drugs will become tax free in India and the goods and services (GST) tax on discretionary items like TVs will drop from 28% to 18%.—bbc.com
Hamburger Helper Sales Rise
During the 2008 financial crisis and the Covid pandemic in 2020, sales of Hamburger Helper increased. Even today, with the price for food consumed at home 21 percent higher than it was four years ago, sales are up 14.5 percent in the year through August.—nytimes.com
Senegal’s Fishermen Blame BP Project for Lack of Fish
BP’s gas project on the Mauritania–Senegal maritime border, a prime fishing area, created a 500-meter exclusion zone over a natural reef, rich in fish. Fisherman income has dropped significantly. BP pledged eight artificial reefs to restore their livelihood.—bbc.com
Zaanse Schans —The Historic Dutch Village
The historic Dutch village of Zaanse Schans, famous for its windmills, attracts millions of tourists—2.6 million last year alone—despite having only 100 residents. Tourists trample gardens, invade privacy, and cause overcrowding that diminishes everyone’s enjoyment. The local council will charge each tourist €17.50 ($20.50) beginning next spring.—bbc.com
Thousands Attend Daniel Caesar’s Free Concert
Daniel Caesar fans poured into Vancouver’s John Hendry Park as the musician hosted a free show. Some attendees climbed trees to get a view. One stood on a garbage can, another on a bike and a few on chairs.—cbc.ca