Economic Lessons

Blog

We use “posts” as “lessons.”  Lessons support Classes.  And Classes are structured around a “curriculum that is personalized to the “learner.”

Hayek – Central Planning

This is not a dispute about whether planning is to be done or not. It is a dispute as to whether planning is to be done centrally, by one authority for the whole economic system, or is to be divided among many individuals.

Aggregate Demand

Aggregate demand is an economic measurement of the total amount of demand for all finished goods and services produced in an economy. Aggregate demand is expressed as the total amount of money exchanged for those goods and services at a specific price level and point...

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 mind....

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 produce...

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....

Hayek’s Biggest Ideas

Hayek’s Biggest Ideas

Five of Hayek's Biggest Ideas F. A. Hayek has had a lot of great thoughts.  I'd thought it would be useful to layout 5 of Hayek's biggest Ideas. Friedrich August von Hayek (1899-1992) is today glorified by freedom lovers all around the world. The Austrian in a double...

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