This blog post examines how light pollution and aging in modern society affect insomnia, exploring the causes and solutions. According to a survey by the Korean Sleep Research Society, 22.8% of Korean adults suffer from nocturnal sleep disorders, namely insomnia. This indicates that a significant number of people experience discomfort in their daily lives due to insomnia, and the number of...
Why does the tragedy of the commons recur even in actions that begin with good intentions?
This blog post uses the dolphin protection debate in the drama as a starting point to calmly examine, from an economic perspective, how good intentions can lead to the tragedy of the commons. The Economics of Protecting Dolphins In August 2022, the hugely popular ENA Korean drama “The Uncanny Lawyer Woo Young-woo” concluded. The drama had several focal points, one of which was ‘whales’...
Does price competition foster a healthy market or invite collusion?
This blog post examines whether price competition enhances consumer welfare or breeds collusion and unfair practices, exploring the perspectives of businesses, workers, and the market through the case of Dangdang Chicken. Competition and Corporate Choice This blog post examines topics related to corporate choice. First, we explore the meaning of competition and monopolistic markets. In...
Is inflated pricing at tourist destinations a market principle or a sign of brand destruction?
This blog post examines whether inflated pricing can be justified as market pricing amid surging tourist demand, and explores the point where price and brand image collide, using the case of Yesan Market. Is Overcharging a Market Price? In January 2023, Baek Jong-won partnered with his hometown of Yesan County to open five restaurants in Yesan Market, aiming to revitalize the local...
Is it genetics and hormones that make women live longer than men?
This blog post scientifically explores why women live longer than men, focusing on genetic factors and hormonal differences. Today, we pursue gender equality, and men and women live in similar environments and conditions. However, statistics show that women have a life expectancy of 82 years, while men have 75 years. So, why do women live longer than men in most countries? The answer to...
Elevators: Are They Really Safe? How Will They Change in the Future?
This blog post examines how reliable the safety mechanisms of elevators—an essential mode of daily transportation—truly are, and explores the direction future technology will take. If you live in a high-rise apartment, you’ve likely experienced the inconvenience of elevator inspections several times a year. It’s precisely during these times that we truly appreciate the value of...
How can ozone protect life while being harmful at ground level?
This blog post examines the dual nature of ozone: how it shields life by blocking ultraviolet rays in the upper atmosphere, yet harms plants and humans at ground level. Ozone (O₃) is formed when oxygen atoms (O) combine with oxygen molecules (O₂). It is a highly toxic substance, potent enough to be used as a disinfectant when diluted. In the surface atmosphere, it is known to damage plant...
How Should We Read Economic News Articles?
This blog post discusses how to view and interpret the information within economic news articles, focusing on the perspective readers should adopt. The Economy Speaks Through News Articles This blog post aims to discuss the perspective for reading economic news articles. The primary economic actors are households, businesses, and the government. While some include foreign entities as a...
How does competition policy protect consumer rights and contribute to market fairness?
Competition policy is a key means of maintaining market vitality and protecting consumer rights. This article examines the impact of competition policy on consumers and its importance. Policies implemented by the state to protect consumer rights include competition policy and consumer policy. Competition policy fundamentally focuses on ensuring vigorous competition in the market by...
Why does the prohibition against discrimination in employment vary in strength depending on the grounds?
This blog post explores why the prohibition against discrimination in the employment sphere carries different levels of protection depending on the grounds for discrimination. We examine how legal principles, mandatory provisions, and labor market realities interact. Traditionally, discrimination refers to the act of labeling specific groups as minorities and treating them unfavorably...