The Gresham’s Law: Bad money vs. Good money
“The course our city runs is the same towards men and money. She has true and worthy sons. She has fine new gold and ancient silver, Coins untouched with alloys, gold or silver, Each...
Category: Macroeconomics
Classical Economics: Praising the free market
“The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it. What everything is really worth to the man who...
Purchasing Power Parity; hey look, a balance
Our willingness to pay a certain price for foreign money must ultimately and essentially be due to the fact that this money possesses a purchasing power as against commodities and services in that country....
Khazzoom-Brookes Postulate: the debate goes on
There is no consensus about the relationship between energy efficiency and energy use and the topic is still highly contested. Some argue that energy efficiency improvements might increase the consumption of energy. This effect...
