Tag: Economics In Action
No accounting for creatures of habit
Successful industrialists claim not to act in accordance with economic theory - why is the theory still taught?
In defence of endogenous growth theory
Much jargon is designed to conceal vacuity of thought. But technical terms have their place.
When the competitor turns predator
When is a price cut bad for consumers? When it is predatory.
Outside football league table tells us all we need to know
League tables are in vogue, and despite the difficulties they seem worthwhile. If only it were easy to produce a “value added” table.
A lesson in transactions from the wallet test
How much will you offer to pay me for the contents of my wallet? Think carefully - if you must back a horse, don’t bet with the trainer.
Would I rather be Henry VIII?
Am I better off than Henry VIII? Dressing the question up in inflation statistics doesn’t make it any more sensible.
A lost manuscript and the fantasy world of Amer and Eur
Being the fantastical story of the islands of Amer and Eur…
Value judgments
Why does water - essential to life - sell for less than diamonds? Any explanation which doesn’t look both at supply and demand will not get you far.
Frontiers of fashion
We overestimate the importance of short-term political change, and underestimate the significance of deep-seated societal difference.
The price is right
Cynics know the price of everything and the value of nothing. When is there a difference between value and price?
