Economics: Lesson 165 If Americans 'buy Asian,' what can Asian exporters do with the dollars? Politicians have trained the public to believe that a manufacturing country is more wealthy. This is true, and the Industrial Revolution is the perfect example of this. But what happens when a nation gets exceedingly rich? It shifts from manufacturing … Continue reading Manufacturing to Services
Economics: Lesson 160 Is free trade across a county border economically different from free trade across a national border? When it comes to town borders, county borders, and state borders, nobody cares about them and they are simply invisible lines. Conservatives defend free trade across these domestic borders with no tariffs or sales taxes because … Continue reading Conservative Polylogism
Economics: Lesson 155 Do import quotas benefit most voters economically? People understand that when they purchase an imported good from across the sea and it is brought over their national border, that they will have to pay an import quota. They don't know why, but they pay it anyway and are told it is to … Continue reading Tariffs & Taxes & Invisible Lines
Economics: Lesson 150 Why do voters accept the riches of movie stars, but resent the riches of businessmen? Everyone has a favourite movie star. Little children love certain cartoons, and adults love certain block buster actors. It isn't often that you come across a person who says, my favourite person is the rich guy who … Continue reading Businessmen vs. Actors
Economics: Lesson 145 If there is no 'price level,' how could anyone prove that monetary inflation raises prices? The price level is a statistic the tells the price of goods and services. The price level often fluctuates depending on how much money is in the market. When the money supply increases, prices rise. You might … Continue reading Price levels and monetary inflation
Economics: Lesson 135 How can profit arise in a free market economy if every factor of production is paid what it is worth to customers? The Free market competition pays all factors of production what the customers determine. The customers are in authority because they have the money. So if everything is paid what it … Continue reading Where do Profits come from?
Economics: Lesson 130 Write about the division of labor required to create a simple household tool besides a pencil. This assignment may sound simple, but I found it very hard to quickly find a simple item to describe the division of labour. I finally decided to choose an item right in front of my face. … Continue reading How to make Tea | Not a single person knows
Economics: Lesson 125 An example of the broken window fallacy as applied to a government intervention. The broken window fallacy is all about seeing the thing unseen. Government is often at fault for taking taxes and using them for things that are not necessary but are easily seen by the public. If taxpayers were able … Continue reading An Example of the Broken Window Fallacy
English: Lesson 120 "Why wouldn't someone voluntarily offer you a job at twice today's minimum wage?" People like money, it's just fact. Most people are not going to throw money around where it could be used more constructively. But let's assume an employer wants to pay someone twice today's minimum wage. There are three reasons … Continue reading Double the minimum wage
Economics: Lesson 115 Imagine you are walking down a cobblestone street in a city, and on that street is a bakery shop with a big front window where all the tasty treats and pastries are on display to lure customers in. A young hooligan comes along and chucks a brick into the bakery window, shattering … Continue reading Seeing the Unseen | The Broken Window Fallacy
louisa neudorf 