Political economy is economics as a branch of knowledge or academic discipline; political economics is what politicians use when they need red meat rhetoric for their base of supporters. Thus, U.S. Senator Cory Booker (D-New Jersey), a vegetarian, and Senator Elizabeth Warren (D-Massachusetts), still vying to be the populist vice presidential candidate, are demanding some rather obvious answers from the major meat packers. They asked each major company ten questions but there are really two key things they want to know:
Why did the companies pay less for animals when the number of head available was relatively high, and their capacity to process them was low?
Why did the companies charge consumers higher prices after they p...
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
