Post Tagged 'subjective value'

August 06, 2024

Four Economic Lessons from Plato’s Republic

When we consider the origin of the fundamental principles of economics, most of us think of Adam Smith and his Wealth of Nations. Smith arguably pioneered economics as its own discipline with this groundbreaking articulation of the workings of the free market. Continue Reading...

December 06, 2016

An economist’s Christmas: Is gift-giving wasteful?

During a season such as Christmas, where hyper-consumerism and hyper-generosity converge in strange and mysterious ways, it’s a question worth asking: How much of our gift-giving is inefficient and wasteful? For some, it’s a buzz-kill question worthy of Ebenezer Scrooge. Continue Reading...

November 07, 2013

Trade as a Solution for Bickering Toddlers

If you’ve raised multiple children, you’ve dealt with sibling bickering, particularly if said children are close in age. With a three-year-old boy and a two-year-old girl, both just 13 months apart, our family has suddenly reached a stage where sibling play can be either wholly endearing or down-right frightening. Continue Reading...