Is it Fare?: In Defence of Uber’s Surge Pricing
Uber, operating in over 70 countries with 93 million monthly users, faces criticism for its surge pricing during peak hours, but this pricing strategy, deemed surge pricing rather than price gouging, serves as a dynamic market approach appreciated by economists. Despite customer complaints, surge pricing efficiently allocates rides to those in urgent need, benefits drivers by offering incentives for challenging shifts, and serves as a valuable model for understanding supply and demand dynamics, contributing to the ongoing debate on anti-gouging laws and market efficiency.
Hosting the Olympics is Not All Fun and Games
Not only are the Olympics an exciting source of entertainment, but they are also a chance for host cities to showcase their culture and gain global recognition. However, being selected to host such a celebrated event is like a white elephant gift. The costs of holding the Games far outweigh any benefits, making the Olympics an extremely burdensome event to host.