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Remote workers are changing economic geography across the world by moving away from big cities.

Economic Geography and the Rise of Remote Work

The Covid pandemic of 2020-21 created a tremendous surge in remote work. Five years after the start of the pandemic, how has the remote work revolution changed our globe's economic geography? What are the policy implications of these changes?...
5 min read
Substitution Effect
Definitions

Substitution Effect

Saddique Ansari • January 29, 2020 • 1 min read

Author bio

Substitution effect – definition

The substitution effect is the effect on demand of a price change caused by a switch to, or away from, a cheaper or more expensive alternative.

substitution effect diagram

Together with the ‘income effect’, the substitution effect provides a simple explanation of why a demand curve typically sloped downwards.


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Consignment stores and online clothing resale sites are part of circular markets for used goods.

The Resale Economy: From Fast Fashion to Circular Markets

Many young consumers are beginning to look at circular markets for gently used clothing instead of relying on mass-produced, disposable "fast fashion." What are the economic incentives behind using circular markets to buy secondhand goods?...
5 min read

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