Latest Posts

August 08, 2017

Entry, exit, and supply curves: Increasing Costs

Note: This is post #44 in a weekly video series on basic microeconomics. As industry’s output increases, what happens to costs? Alex Tabarrok of Marginal Revolution University look at three options: an increasing cost industry, a constant cost industry, and a decreasing cost industry. Continue Reading...
August 07, 2017

Why the culture matters for economic flourishing

“Moral ecology is the new frontier of political economy: the culture in which the free society thrives — or destroys itself.” –Michael Novak In assessing and addressing the economic issues of the day, we tend to look first to tangible or mathematical solutions, cutting and re-cutting various economic pies as we ponder different policies and pathways to higher employment, better wages, and all-around material prosperity. Continue Reading...