We teach Austrian Economics in a fun way! How is wealth created? Saving and investing is the key to personal wealth as well as the economic growth. 👍 How prices are determined? What can we learn from knowing the price discovery process? 😎 The Great Recession was initiated by bursting of the housing bubble. But why there was a housing bubble in the first place? Opportunity cost is the road not taken. Every action has a cost! How do we determine the value of things? How to explain the “water and diamonds paradox”? The law of diminishing marginal utility gives us an answer! Learn Austrian Economics in a fun way! 🎞
Automation: chance or threat?
Less than two years before Stephen Hawking’s death in December 2016, the renowned physicist has warned in The Guardian that the automation and artificial intelligence was destroying the middle class. He wrote that there [...]
Was Tulipmania the Madness of Crowds?
Tulipmania - was it really "the Madness of Crowds"? The Seventeenth century was the golden age for the Netherlands. Trade, industry, science, and art were all blooming. Some of the reasons for this development [...]
Capitalism – The Unknown Ideal?
We start by addressing an important question: What is politics? There are numerous definitions. One encyclopedic definition states: "According to political philosophy politics is a strife to implement the idea of The Good [...]
Investment Risk and Its Types
In the simplest of terms, the “investment risk,” is a possibility of an investment bringing a result other than anticipated.1 You may lose some or all of your invested funds, even though [...]
Universal Basic Income | Pros and Cons | UBI
Have you ever wondered what it would be like to go back to the 1970s soviet country, and return to our times with then-popular maxim: “Down you lie or up you stand, [...]
Why is US healthcare system so expensive?
Why is US healthcare system so expensive? Is it because the free market failed? Or is it because of various government interventions? Learn Austrian Economics in a fun way!
¿De dónde viene la riqueza? | Ahorros e inversiones
Imaginaos un mundo en el que, de un momento a otro desaparecen todas las herramientas, todos los edificios, coches, máquinas e incluso cosas tan básicas como cuchillos, martillos o palas. ¿Cómo sería nuestra economía [...]
I, Pencil By Leonard E. Read
I, Pencil By Leonard E. Read I am a lead pencil—the ordinary wooden pencil familiar to all boys and girls and adults who can read and write. Writing is both my vocation and [...]
Prisoner’s Dilemma and Self-enforcing Contracts
“Two men suspected of a crime are arrested. Though there is no evidence to convict them on a principal charge, there is enough to convict them on a lesser charge. Each prisoner is put [...]
The Tragedy of The Commons | How to avoid it?
The tragedy of the commons - what is it and how to avoid it? Are there any good solutions? Is there a way to stop it? In the manors of feudal England there were [...]