August 5, 2019
Illustration of the Gains from Trade In the absence of trade, the United States might choose to produce and consume
Illustration of the Gains from Trade In the absence of trade, the United States might choose to produce and consume
No Other Article Explains the Economic Problem As Clearly F. A. Hayek PoliticsSocialismScarcityF. A. HayekSocialist Calculation DebateEssential If you want
Tejvan Pettinger “Nothing is so permanent as a temporary government program.” Milton Friedman, “Tyranny of the Status Quo,” (1984) p.
Tejvan Pettinger What are the advantages and disadvantages for a developing economy, such as Ghana if it is dependent on
Taxes on negative externalities are intended to make consumers / producers pay the full social cost of the good. This
Tejvan Pettinger Cobweb theory is the idea that price fluctuations can lead to fluctuations in supply which cause a cycle
Explanation of why government intervention to try and correct market failure may result in government failure. Summary Market failure is a
Prabhat Patnaik The post-second world war years had seen systematic intervention by the State to stabilize capitalist economies. In fact
Price elasticity of demand (PED) measures the responsiveness of demand after a change in price. Example of PED If price
Interest rates are constantly in the news, and we all know they have an important effect on the economy and
