Econowmics Blog

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

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