The Trans-Pacific Partnership is already toast; the North American Free Trade Agreement may be next as the Trump Administration is seduced by the false allure of protectionism.
What does “Economic Facts and Fallacies” by Thomas Sowell cover, and how does it compare to economist Thomas Sowell's other books?
We've all heard the terms Supply & Demand before, but how much do you really know about one of the fundamental principals of economics? In this article, we'll cover the basics everyone needs to know.
The law of equi-marginal utility or Gossen's second law explains how a consumer allocates his income among various commodities for getting maximum satisfaction.
This case examine the implications of the merger of Pepsi Co. and Quaker Oats Company for the rivalry between Coca-Cola Co. and PepsiCo, and for value creation by each firm.
Meaning of consumer's equilibrium - assumptions - budget line or price line - indifference map - necessary conditions for consumer's equilibrium - deriving consumer's equilibrium graphically
Income Effect on Consumer's Equilibrium - Substitution Effect on Consumer's Equilibrium - Price Effect on Consumer's Equilibrium - Derivation of Demand Curve from Price Consumption Curve
Taxes are as old as sin, as certain as death, and as popular as a skunk at a lawn party, but they do fund social programs we all rely on.
The BNA sees poverty in terms of consumption deprivation. But the capabilities approach looks at poverty in terms of deprivation of opportunities related to lifestyles people value.
The late 19th century was a critical time of change: social, economical, political, and more. This change resulted from the revolutions of the previous centuries. Three such revolutions in particular are the French Revolution, Scientific Revolution, and the Christian Reformation. The culmination of these three revolutions gave birth to new political, social, and economical ideologies of Capitalism, Socialism- governmental and non-governmental, and Communism/Anarchism. Each ideology broke bonds w
This article takes an academic approach to answering frequently asked questions about the Great Recession of 2007-2008.
What is GDP or GNP? How are GDP and GNP related? What is Nominal GDP and Real GDP? A short overview of these important economic concepts.
Acknowledging the time value of money empowers people to make better financial decisions and become better savers and investors.
There are three types of equilibrium, namely stable, neutral and unstable equilibrium. Prof. Schumpeter explains the three positions with a simple illustration of a ball placed in three different...