All posts by maxwellharveyyoung


        Finance, and now economics as of late, has interested me because I am intrigued by the world of business and how it functions, but more importantly how business can empower people around the world.  As I am just a freshman, I intend to utilize this blog as a learning tool not just for my readers but for myself as well.  As I continue to broaden my horizon across these respective fields of business, the scope of this blog, along with the application of it, will widen as well.
        I’ve pondered this idea of a financial/economic blog for some time now.  The idea came to me this summer before I began my first year at George Washington University, but I was not sure if it was something that I wanted to pursue, for this isn’t the first blog I’ve created. When I was about ten years old I created a blog called Young Groove where I told stories about a boy named Unice (its like I wanted him to be bullied) who would ultimately learn some type of lesson by the stories’ end.  Like most projects at a young age, this was short lived as I quickly moved on to the next bright idea that popped into my head.  So, I put this new bright idea on the back burner because I wanted to be sure that a blog was something I truly wanted to create and form into an extension of my education.
        Young Economics has to be more than just taking economic and financial theories and principles from the classroom to discussing them with you.  While I thought about this idea I decided to research if there were any other blogs on the web that were pursuing a similar idea.  Of course, there is the famous Freakonomics blog that intelligently and interestingly discusses current events, issues, and phenomena through an economic and financial lens, but I did not see a site that drew from a young (collegiate) mind for young minded readers who are interested in the respective fields. I intend for Young Economics to add elements to scholarly conversations.  I do not plan on simply taking concepts and ideas from other financial sites and talking about them here, but rather researching and gathering information on certain topics that interest me and applying them to what I am studying in school.
        I am just a college student; I do have interests and hobbies that are academically unrelated, like Nike shoes, architecture, hip-hop music, and so on.  Hopefully, by writing about my own interests I may be able to capture an audience that shares similar interests but also finds my voice relatable and somewhat helpful along their own educational journey through the business world.  I plan to write an entry at least once a week, but thank you in advance for taking the time to read my blog, and please do not hesitate to share your comments with me…a conversation is a two way street.

The Secret Behind Nike’s Limited Releases

As I mentioned in my Introduction post, one of my interests revolves around global sportswear icon, Nike Inc.  Ever since I can remember, I’ve been enamored with The Swoosh.  The passion and ingenious behind each of their creations is something to marvel, for they continue to innovate and reimagine the way we think about apparel.  Also, the entrepreneurial ability and spirit of co-founders Phil Knight and Bill Bowerman to start a company out of the trunks of their cars to only transform it into a multibillion-dollar entity is admirable and something every kid dreams about doing.  Recently though, I’ve become more in tune with this interest and curiosity.  Not to say that I am a ‘sneakerhead’ (someone who has an insatiable desire to collect sneakers), but I have begun collecting several pairs of Nike footwear…currently five kicks (sneakers) deep.  If you aren’t familiar with Nike and this phenomenon of shoe collecting, I ask that you please check out this video of one of the most absurd sneaker closets you’ll ever see:

Limited release sneakers are what fuel this sneakerhead phenomenon.  You see, on just about every Saturday morning people of all ages wake up just a couple of minutes before eight O’clock with their momma’s credit card in hand or money from their latest paycheck to hit that Twitter link Nike supplies saying, “The Air Jordan 11 Retro ‘Gamma’ is now available”, so that they may have a chance at “copping” (buying) the latest Nike shoes to hit the virtual shelves.  The fact that these releases are limited alludes to the fact that many people end up empty handed after the shoe sells out in 10 minutes, only to try again, and probably fail, the following weekend.  What I don’t understand though, is the purpose it serves to continually release limited edition sneakers when Nike could easily supply more and accommodate the demand of each shoe.  Over the next couple of days I will be publishing my findings, stay tuned for part II to be released tomorrow.