The Cobra Effect: Unintended consequences
But Mouse, you are not alone, In proving foresight may be vain: The best laid schemes of mice and men Go often askew, And leave us nothing but grief and pain, For...
Category: Terms and Concepts
The Big Mac Index: A delicious indicator
The Big Mac Index was written by Pam Woodall in The Economist in 1986. The index, also known as Burgernomics, is published every spring by The Economist. According to the magazine, it serves as...
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....
Property Rights: a Key Player in Economics
Without property rights, no other rights are possible. Since man has to sustain his life by his own effort, the man who has no right to the product of his effort has no means...
