Fractal Politics 2

Fractal Politics The evolution of digital technologies and the evolution of contemporary society and politics have facilitated fractal thinking.  It is fairly obvious that technology innovations can facilitate cultural and political innovations, which in-turn...
12 Economic Concepts

12 Economic Concepts

Twelve Economic Concepts Everyone Should Know 1. Gains from trade: In any economic exchange, freely chosen, both parties benefit–at least in their own minds. 2. Subjective value: The value of any good or service is determined by the individual human...

Adam Smith – Invisible Hand

From An Inquiry into the Nature and Causes of the Wealth of Nations, Book IV, Chap. 2 by Adam Smith.  By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its...

Henry Ford and the $5 wage

He says Ford proved that higher wages led to more productivity, which in turn was good for business. That positive feedback loop gave rise to a broad, prosperous middle class. But over the years, waves of economic pressures and political changes have broken that link....