-
That's a good one, although a myth that mainstream economist believe in, not the public in general :)
-
Hi guys, Here's a list of "Top 10 economic myths" from here: http://hiddeneconomist.blogspot.com/2010/09/top-10-myths-about-economics.html Can you think of others, more common?
-
I don't think there's a direct relation. But I think the key is being an intellectual that is pro-efficient using the computer and internet, and finding and reading information off the internet. I think that the great drive behind libertarianism is that internet is a powerful vehicle for its diffusion. Then, software engineers got more exposed
-
[quote user="Student"] A very important question to ask is whether the firm should shut down. The answer is No. As you demonstrated, the firm would actually lose more money shutting down than if it produced the profit maximizing amount. So the firm should go right on ahead and keep producing calculators like normal. In fact, the firm should
-
[quote user="Student"] Now that you have the table and curves, the last questions are simple. If the price of calculators is $15, a profit maximizing firm in a perfectly competitive market will produce until marginal costs equal price. Marginal costs are $15 at 4. So the firm will produce 4 units. [/quote] That's interesting. The approach
-
Is there something I'm missing here? The question is, since you somehow always lose 30$ even if you don't produce anything, and the cost per unit never drops below 17.50$, how can you minimize loss. What quantity you would produce? Either 3 or 4, since at those quantities, you lose 10$ Is there a profit or loss? loss, 10$ The problem is stupid
-
[quote user="Daniel"] So why aren't the Cubans, the North Koreans, half the African countries, the Chinese and the Russians living in the communist utopia yet? [/quote] I'm not sure to understand your question, it seems to me you read the title but not the content of my post. Anyhow, if the question is why those countries aren't
-
[quote user="Conza88"] Have you read Rothbard's, 'The Deathwish of the Anarcho-Communists' ? [/quote]I didn't, but just did. It's a great article, thanks for pointing it out :)
-
I was reading Rothbard critique of Marx in his History of Economic though, and Mises' in his Theory and History. One point that was raised is how Marx can expect the state to 'wither away' while the communist mean is the maximization of the state. And it struck me, that actually the egalitarianism of Marxian communist and the abolition of
-
I assume you mean: What's the difference in the ability of the FED of raising interest rate between 1931 and now? Because in 1931, the US wasn't really on the classical gold standard anymore, even though gold coins were circulating. In this respect, there's not much difference in the FED's ability to raise interest rate between 1931