How are monopolies formed?
John is a shoe producer in a far country of Los Zapatos. He achieved his significant market position in an honest manner, [...]
Lean Manufacturing | a pursuit of perfection
In today's episode, we'll talk about: 1. What is Lean Manufacturing and what principles and tools does it use? 2. What [...]
Why do we need accounting?
Why do we need accounting? Some might think, that accounting is only a boring and unnecessary redundancy and that it exists only due to regulations and [...]
Skyscrapers: heralds of prosperity or crises?
The concept of "capitalism" evokes a number of associations. In popular culture, the symbols of capitalism are often banknotes, trademarks of well-known global companies, the dollar [...]
Price controls
In the previous episode we talked about prohibition. Although we started with the example of an autistic intervention in the form of a ban on possessing [...]
How to Buy Gold and Silver | Practical Guide
What are the purposes of buying gold and silver? First of all, to keep purchasing power in the long [...]
What’s the difference between invention and innovation?
Have you ever heard about the dispute of two Steves who created an apple? Of course, it is about the disagreements [...]
Types of interventions and the effects of prohibition
Today, let's discuss the types of market intervention and, using an example, the effects of one of its types. [...]
Capitalism, Socialism, Interventionism
To understand the effects of interventionism and find out what it is, we have to state what capitalism and socialism in economic terms are, because they [...]
Climate Change from the Economic Point of View
Everyday we hear chilling stories about climate change in the media: In a dozen years or so humanity will certainly die out, forests will burn or [...]