Tag: Equilibrium Compatibility
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Trick or Treat: Lessons in Economics
Halloween is an odd event because it is so silly: people dress up in scary costumes and, for one night in the year, anybody who knocks on the door is given candy. This post notes six lessons involving economics, not including the incentive/threat implied by the phrase “Trick or Treat”.
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Surprising Insights and the 2025 Nobel Laureates in Economics
The 2025 Nobel Laureates in Economic Science are being recognized for their contributions to understanding the determinants of economic growth. Growth is generally seen as a good thing and the work being recognized was done more than 30 years ago. So, what was the surprising insight and, more importantly, what do others not understand about…
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An important question to ask yourself when investing
You might have heard the news that stock price indexes are hitting record highs. So, many people are asking: is now the time to sell or is now the time to buy? My goal in this post is to explain why that is the wrong question and that the answer to the better question depends…
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Three Quotes that Define True Education Success
As students return to classrooms, it is good time to think about what is worth learning. Many facts could be learned but, if that were the goal of an education, graduation ceremonies should be replaced with trivia contests. The real goal is wisdom, because wisdom overcomes ignorance and guides applications.
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Careless Economics: A Trillion Dollar Math Problem
On April 2, 2025, President Trump displayed a poster which listed countries and the “reciprocal” tariffs to be imposed on their imports quickly. Reporting by CNN and others shows that the numbers are justified by this formula. Many media noted how amazingly stupid this formula is. Arithmetic errors are embarrassing, if you are in Grade…
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Why All-You-Can-Eat Restaurants Survive and Thrive: Economic Insights
An all-you-can-eat restaurant seems like an obvious exception to the rules of basic economic logic, until you dig beneath the surface.
5 Basic Principles of Economics 