We could say that two events in 1973 changed financial markets. The CBOE (Chicago Board Options Exchange) starts trading. The Black-Scholes Model for pricing options (most simply the right to buy or s…
Weekly Roundup: From Traffic Congestion to Job Evaluation
Our everyday economics includes central planning, unintended consequences, comparative advantage, transportation infrastructure, cost & developing nations.…
The World's Sanitation Gap
A production possibilities graph can display the land, labor and capital underutilization that inadequate sanitation creates and indicate a constrained GDP.…
The Ant or the Grasshopper?
“What a silly little ant you are,” said the grasshopper in The Ant and the Grasshopper. “Forget about work…Enjoy the summer!” But all day, everyday, grain by grain, …