Econowmics Blog

The Malthusian Trap

“I think I may fairly make two postulata. First, that food is necessary to the existence of man. Secondly, that the passion between the sexes is necessary and will remain nearly in its present state. These two laws ever since we have had any knowledge of mankind, appear to have...

Inequality

“At first countries’ incomes were all bunched together, but with the Industrial Revolution the differences exploded, and the countries have “flown” further apart from each other. . . . [it] pushed some countries forward onto the path to higher incomes while others stayed at the point where they had been for millennia. ....

Indifference curve

The universe seems neither benign nor hostile, merely indifferent. Carl Sagan   Suppose that there are only two types of goods which you, as a customer, buy and use. What amount would you prefer to buy from each one of these two goods? Why? Yeah, for sure, there are far...

Victor Dubreuil - 'Money to Burn', 1893

Interest rates

Since many enrolled in the clergy are pursuing avarice and shameful profit, and have forgotten the saying of Sacred Scripture: “who has not given his money in usury,” and when they offer loans, they charge a percent, this holy and great Synod justly establishes that if anyone will be found,...