South-Westerns' Economic News Summaries
EconNews Online

EconNews Online is South-Western's service to provide summaries of the latest economics news stories. Review the brief summaries and, for stories of interest, select the full summary.
SCARCITY, CHOICE, and OPPORTUNITY COST
Title  Brief Summary 
How Much Does it Really Cost to Go to School in Hong Kong?
Full Summary 
As spaces in international schools in Hong Kong have become more and more limited, schools are resorting to a different rationing technique: allowing people to pay for the seats.
(Updated July, 2007)
How Much Will the Iraq War Cost the Iraqis?
Full Summary 
U.S. economists have studied the cost of the Iraq war to the U.S. But to this point no one has considered the impact of the war on Iraq itself. The numbers, even as a first pass, don't look good.
(Updated November, 2006)
Let Us Keep Your Best and Brightest-It's the Poor Ones We Don't Want
Full Summary 
The news often shows illegal immigrants taking jobs from decent tax-paying Americans. But legal immigration is suffering mightily in the wake of immigration reform--and that could cost the U.S. dearly.
(Updated May, 2006)
Welcome Back to the Bosom of Society…and by the way, That'll Be $127,000.
Full Summary 
At this point, people who have been imprisoned have an increasingly difficult task to become productive members of society. And the discrimination is all legal.
(Updated March, 2006)
Goodbye Y2K, hello DST
Full Summary 
When daylight-savings time expands by four weeks beginning in 2007, many electronic devices could give consumers big headaches. DVD recorders and VCRs may be programmed with current daylight-saving time zones, but not for the new, expanded daylight savings zones. Computer calendars won't immediately recognize the change, and some people may miss meetings or may find that their TVs taped the wrong shows.
(Updated September, 2005)
Be careful what you ask for; it may not be what you wanted
Full Summary 
In the constant struggle between economic interests and national security, American workers are concerned that foreign workers in this country will steal their jobs. However, imposing limits on foreign workers may have additional, unconsidered costs. The limits on H-2B work visas, which allow foreign workers to work in the US, are being reached with repercussions in a variety of non-related industries.
(Updated June, 2005)
With less fuel, airlines will still get you there, but it may require a few trips
Full Summary
In June, 2004, The Federal Aviation Administration (FAA) scaled back their requirements so that airlines must now carry only 5% over the estimated fuel needs on international flights instead of the previous 10% reserve requirement.
(Updated October, 2004)
It's Getting Too Expensive to Put People in Jail
Full Summary
Since the last time such costs were calculated in 1999, costs of fighting crime have increased from $147 billion to $167 billion in 2001, up from only $36 billion in 1982.
(Updated July, 2004)
Now You Have to Buy an SUV!
Full Summary
Driving around in an SUV may make you safer, but it is more dangerous to those around you, especially if car drivers are in an accident with an SUV.
(Updated February, 2004)
Pricing Motherhood
Full Summary
Jane England died shortly after giving birth to triplets. The hospital admitted liability, eventually settling the case for $1,275,000. In the trial, Mr. England was asked to value his wife's contribution to household income, her parenting, and her personal spendings relatively equal awards in spite of the law requiring compensation at least in part for income and earning potential.
(Updated June 15, 2002)
What Price for a Life?
Full Summary
The lawyer in charge of making awards to families of victims of the September 11 attacks has stated that he favors relatively equal awards in spite of the law requiring compensation at least in part for income and earning potential.
(Updated January 15, 2002)
'Get Out Of Jail Free' and Earlier Parole Increasingly Common
Full Summary
After two decades of passing tougher laws requiring minimum sentences and limiting early parole, states are backtracking. A slowing economy, lower crime rates, and spiraling prison costs are the reasons.
(Updated October 1, 2001)
Coinless Slot Machines Are a Winner to Some, Not to Others
Full Summary
Coinless slot machines are spreading through casinos. They remove the delays and costs of waiting for change and filling coin hoppers, increasing revenues. Consumers, however, have mixed feelings.
(Updated August 1, 2001)
Chinese Dumplings - To Make Or Buy?
Full Summary
The ancient art and practice of hand-making Chinese dumplings is being replaced by purchasing frozen dumplings of improved quality from stores.
(Updated May 1, 2001)
The Price of Work: Breakfast On The Run
Full Summary
More people are eating breakfast at or on the way to work, rather than eating at home. The reasons include longer workweeks, the need for quiet time in otherwise hectic schedules, and heftier commutes.
(Updated August 1, 2000)
The Road to Ruin
Full Summary
There are a number of significant road construction projects in progress around the nation. Although they purport to reduce commuting time in the long term, they increase commuting time in the interim. Also, they encourage more traffic to use the road.
(Updated November 1, 1998)
The Cost of Graffiti Rises for Property Owners and Artists Alike
Full Summary
Graffiti artists, or "graffers," are causing significant costs for the owners of defaced property and the surrounding communities. Massachusetts has enacted stiff penalties for graffers.
(Updated August 1, 1998)
Dear Children
Full Summary
A British study shows that a child can cost $80,000 up to age 17 excluding private education and full-time childcare. In addition, mothers with two children may lose as much as $400,000 in lost earning and retirement income.
(Updated April 1, 1998)
Grave Robbing Dead Easy
Full Summary
In Peru, the robbing of graves for artifacts is widespread. Archaeologists are angry that the separation of artifacts from their context is depriving society of a better understanding of ancient cultures.
(Updated December 1, 1998)
Inflammatory Insulation Recommendation Insulates FAA From Public Criticism But Inflames Airlines
Full Summary
The Federal Aviation Administration is recommending that airlines replace the fuselage insulation on their planes. The agency suspects that their flammability has led to fires. While industry representatives have indicated that they will comply...
(Updated December 1, 1998)
Chill Out and Don't Cook In
Full Summary
Consumers often feel guilty about buying chilled convenience food because of the higher cost and perceptions of inferior taste and nutrition. However, when the value of the home cook's time is included and taste tests are conducted, it appears that consumers' decisions make sense.
(Updated November 11, 1998)
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