Monthly Archives: May 2011

Basic Economics IX

Posted on May 25, 2011 by Professor Nerdster

Part III: Work and Pay Chapter 9: Productivity & Pay [Please note: Thomas Sowell is informed by libertarian principles: this is a precis of "Basic Economics"] Humans are key to economic input and output. Pay is what motives them. If … Continue reading →

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Basic Economics VIII

Posted on May 20, 2011 by Professor Nerdster

8: An Overview of Industry and Commerce [Please note: Thomas Sowell is informed by libertarian principles: this is a precis of "Basic Economics"] McDonald’s was able to combine Kroc’s hamburger knowledge with Sonneborn’s financial sense. Howard Johnson was destroyed by … Continue reading →

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Basic Economics VII

Posted on May 9, 2011 by Professor Nerdster

16: Money & The Banking System [Please note: Thomas Sowell is informed by libertarian principles: this is a precis of "Basic Economics"] Money is the intermediary means of exchange. Direct trading of goods is inefficient: a chair for how many … Continue reading →

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Basic Economics VI

Posted on May 5, 2011 by Professor Nerdster

6: The Role of Profits – And Loses [Please note: Thomas Sowell is informed by libertarian principles: the following is a précis of "Basic Economics"] The prospect of profits is just as important as the threat of loses in economic … Continue reading →

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