Tag: McDonald’s

Basic Economics X

Chapter 10: Controlled Labour Market [Please note: Thomas Sowell is informed by libertarian principles: this is a precis of “Basic Economics”] Job Security: France, Germany and India all have job security laws make it difficult and costly for a private employer to fire anyone. Countries with such laws typically do […]

Basic Economics IX

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 you increase the pay for engineers, then students in math […]

Basic Economics VIII

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 McDonald’s. Franchising McDonald’s required people willing to take risks but […]