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[Academic Minute] The Cost of Fireworks

Jay Zagorsky

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July 4, 2022

Fireworks – Inside Higher Education academic minute – july 4, 2022

Academic Minute recently published a podcast featuring insight from Jay Zagorsky, Senior Lecturer of Markets, Public Policy, and Law, on the growing use of fireworks in the United States.

Most Americans know the days around the Fourth of July to be the most popular for fireworks. Though rising inflation has made fireworks more expensive, this seasonal business remains just as popular as ever.

“Last year in 2021, the average wholesale price for imported fireworks was $1.13 a pound. During the beginning of 2022, the price has jumped to $1.30 a pound. This 15% price increase is almost twice the U.S. inflation rate.”

Jay Zagorsky

With more Americans choosing to light off fireworks this year than ever before, however, inflation doesn’t seem to be taking a toll on the industry or on the enjoyment of this Independence Day pastime.

Jay Zagorsky is Clinical Associate Professor in Markets, Public Policy, & Law and is a cross-disciplinary researcher who has spent over two decades of researching a wide variety of personal wealth topics. He tries to explain why some people become rich, others are poor and some move between these two states. He is currently synthesizing this research into a book that presents the results of his academic research and other wealth researchers in an accessible format.

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