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
Category: Economics in the News-Micro
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
Higher Steak and Beef Burger Prices in the U.S. Are Here to Stay
The rising cost of raising cattle is leading ranchers to sell heifers—the higher-fertility cattle needed for herd rebuilding—lowering the herd to its smallest size in 75 years. With beef prices at record highs, diners are opting away from steaks and burgers.—npr.org
AI Data Centers in the U.S. Have Squeezed Output in Other Markets
Big tech firms in the U.S. are building numerous data centers, betting on massive AI-driven economic growth. However, the increased number of data centers has put extra strain on the electricity grid, leading to an average 7% rise in electricity bills in 2025, which has constrained output in other markets.—economist.com
EV Buyers in the U.S. Get Tax Credit Until September 30
The government has granted a tax credit to buyers of new EVs up to $7,500 for binding contracts signed before or on September 30.—npr.org
U.S. Orange Juice Shipments Plummet as Canadians Find Florida Orange Juice Hard to Swallow
Supply constraints are raising orange juice prices in Canada, lowering demand. U.S. tariffs prompted boycotts of U.S. goods like Tropicana whose price has risen to $13.99 in Canada, while Canadian brands PC and Irresistible sell for $6.50–$7.69.—cbc.ca
GM’s Latest Tariff Hit: $ 1.1 Billion
GM’s imported vehicles have faced a 25% tariff since April, while automotive parts have had tariffs since May. These costs cut $1.1 billion from Q2 profit. GM has no immediate plan to raise prices to offset tariffs.—cnn.com
President Lincoln Imposes the First Federal Income Tax
On August 5, 1861, President Lincoln imposed the first federal income tax by signing the Revenue Act. Strapped for cash with which to pursue the Civil War, Lincoln and Congress agreed to impose a 3 percent tax on annual incomes over $800.—history.com