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My economics teacher is a whole sale idiot. We've gotten into several little scuffles over the course of class and I think it's fair to say that there is a mutual hatred between the two of us. I knew I was in for a doozy when on the first day he said that he'd earned his masters in economics...
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The model works on the property of absence of diminishing returns to capital. The simplest form of production function with diminishing return is: figure 1.1 where , is a positive constant that reflects the level of the technology. capital (broad sense to include human capital) , output per capita and...
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I am always suspicious that there is a strong connection between economy and politic. Before slaves are the only way to get things done better. So incentive to support slavery is high. Then industrialization run high and low paid workers can get paid higher. More and more capitalists find it easier to...
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You can learn all you want about Thomas Jefferson by reading his blog! Several times each week, he posts briefly on a variety of topics. Recent posts were on George Washington, the metric system and the value of paying cash. Tomorrow's will be on economic "bubbles." Read his blog at http...
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The Best Argument Against the Free Market Anytime someone mentions anything about the free market that isn't immediately followed by "needs to be severely regulated and contained" or "is worse than a casino" or "is completely flawed, without compassion or morals"...it's...
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Public Private Trust GeMiJa copyright 2008 A Public Private Trust originates through a variation of state capitalism where shares of stock from corporations are exchanged for state subsidies . However, unlike state capitalism the shares acquired through the exchange are relinquished by the state into...
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Within the field of economics there is a concept known as the equity-efficiency trade-off. Efficiency is regarded as objective. While equity is subjective and filled with value judgments. Since equity is normative the concept of fairness must be determined. Fairness is actually far more objective than...
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In this video, using Ron Paul's own words from his books and interviews, it is shown that Ron Paul's goal is voluntaryism. He adopts limited-government positions and appeals to the U.S. Constitution as part of a long-term strategy for achieving a completely free society, absent any State.
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There is a disturbing trend that I’ve come across lately and that is when, people of anarcho-capitalism persuasion drag down their fellow free-market libertarians and minarchists for not going 'all the way'. Now i personally would say that support the rights-based anarcho-capitalist ideal;...
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Hey everyone, so this is my first post. i've written my ideas in essay form because other people are likely to read it and i don't like changing the introduction around. hope you enjoy and try at answering my questions. although i think the likely hood is that you will disagree with at least...