Tag: supply and demand
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The 10 Things In Economics That Everybody Should Know
Business Insider: The 10 Things In Economics That Everybody Should Know We discuss a lot of economic concepts here, but sometimes it's good to go back over the basics. Balaji Viswanathan, CEO of ZingFin.com, has written a great post on Quora, going over the 10 concepts that everybody should know. It's a very good overview…
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Of course there are empty Olympic seats: our Victorian government is arresting anyone who tries to sell them
Telegraph: Of course there are empty Olympic seats: our Victorian government is arresting anyone who tries to sell them … Think it through for a moment. There are some people over here that have something they don't value, while there are other people over there who value those things highly. What we'd like is for…
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Economic Falacies: Pay Equals Importance
The “Pay Equals Importance” fallacy maintains that the wages and salaries people are paid should be commensurate with the importance of their work. People frequently lament that schoolteachers make so little money, but a famous basketball player like Kobe Bryant makes 30 million dollars annually (including endorsements, etc.). After all, teaching our children is far…