Post Tagged 'marginal revolution'

January 10, 2017

How markets link the world

Note: This is post #16 in a weekly video series on basic microeconomics. Ten years ago this week, Apple unveiled the iPhone. It’s a product that was designed in California and produced by thousands of people all over the world. Continue Reading...

December 06, 2016

An economist’s Christmas: Is gift-giving wasteful?

During a season such as Christmas, where hyper-consumerism and hyper-generosity converge in strange and mysterious ways, it’s a question worth asking: How much of our gift-giving is inefficient and wasteful? For some, it’s a buzz-kill question worthy of Ebenezer Scrooge. Continue Reading...

December 06, 2016

Understanding tax revenue and deadweight loss

Note: This is post #12 in a weekly video series on basic microeconomics. Why do taxes exist? What are their effects? In this video by Marginal Revolution University, economist Alex Tabarrok explains how taxes affect consumer surplus and producer surplus. Continue Reading...

February 12, 2016

I, Rose: Networks of exchange and the love they deserve

In Leonard Reed’s famous essay, “I, Pencil,” he marvels over the cooperation and collaboration involved in the assembly of a simple pencil — a complex coordination that is quite miraculously uncoordinated. Continue Reading...

January 22, 2010

Psychologists confirm: Power corrupts

The Economist reports on a new study by psychologists that looks into the problem of abuse of power. The researchers attempt to “answer the question of whether power tends to corrupt, as Lord Acton’s dictum has it, or whether it merely attracts the corruptible.” Continue Reading...