I was having a conversation with a group of friends the other day, and we were talking about how Google or Facebook or any of these companies that offer completely free to use services make money. Most people seem to believe that these companies sell your data, but in reality, it’s a little more complicated […]
Associated with every transaction, any exchange of goods, services, and currency, there is a field of study known as economics. Generally, those who are not well versed in economics may not entirely be sure of what it is. Some may think that the study is only concerned with wealth and how to produce it. But […]
Ask any classical economist, and he’ll tell you free trade maximizes benefits for all parties. Producers are able to sell more goods, and consumers get a lower price. But they will also likely add that there are some cases in which that tenet doesn’t apply for a variety of reasons. I believe undoubtedly the substantial […]
The reform journalists in the early 1900s have made “monopoly” into a bad word. Every worker and consumer in America scorn the word as if it was cheater or exploiter. The word conjures images of the strike-crushers and robber-barons who made millions in oil and steel. As a result, no company today wants to be […]