Value lies largely in the mind of the consumer, and the task of the entrepreneur is to try to understand consumers’ feelings and preferences and to provide a product or service in line with what the consumer wants.
China cannot disrupt the global monetary system and dethrone the US dollar when it has one of the world’s tightest capital control systems, a lack of separation of powers and weak transparency in its own financial system
The common view among many economists today is that it's better for economic growth to make sure more people spend every last dime on trinkets at the discount store. But what the economy really needs is more investment.
Warren and Sanders et al.
The Fed has cut its key target interest rate, and has cut interest paid on reserves, all while injecting more liquidity into banks. This is not a confident Fed.
Oct. 31 marks the 11th anniversary of the release of the famous bitcoin whitepaper.
Income can be defined as how much one can consume without depleting capital. And it is a very important economic concept. Don't let economists tell you otherwise.
