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Showing posts from April, 2020

The Economics of Toilet Paper

On November 17, 2019, the first case of COVID-19 or as some call it, coronavirus was discovered inside the body of a 55 year old in the Hubei province in China. This was about a month before the world discovered the disease running rampant through the city of Wuhan, China. Fast forward 4 months and COVID-19 has spread across the globe and accounted for thousands upon thousands of deaths worldwide. Many people in the United States didn’t initially take the outbreak seriously; ignoring the rules countries had put in place for people to remain inside and away from other people. But once it spread throughout the United States, mass hysteria began and people started to go wild. From price gouging items like hand sanitizers and medical masks, to people buying hundreds of rolls of toilet paper and hoarding them. The disease has turned the world upside down. This paper will show you the economic impact that COVID-19 has made in the United States and how some people have reacted to the crisis...