Michael Mandel reports that, during the recession, we're consuming less food. Strictly speaking, we're spending less money on food. This probably means that people are buying less expensive food, but you wouldn't think it's the second biggest cost cut we're making--after all, everyone has to eat.
Ed Glaeser argues that we shouldn't try to help the auto industry. This is a common economic argument, actually. After all, if a company is going under--particularly a large one--there's probably a good reason for it. They're somehow not efficient enough to survive the market, and helping them out is a waste of money.
How's this for developmental news? Over 60% of the world now uses cell phones. I expect everyone around me to have a cell phone, it's strange to me that almost 40% of people don't use cell phones. And, developed nations account for 66% of cell phone usage. That's even more weird to me!
Intel wants to push its Atom processor (which currently runs my netbook) into other devices. Hooray for low cost processors! I love it when innovation and competition drive down prices.
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