This blog is going to be a little different – a friendly competition to see who is beginning to think like an economist. First, the method for the contest. You will respond to the prompt below. The student who responds with greatest clarity and accuracy will win a three-course feast for two at Dairy Twin, courtesy [...]
“…by directing (his work) in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention.” The end unintentionally promoted, according to [...]
Outsourcing, the transfer of jobs by U.S. companies from the United States to other countries where labor costs are lower, has become a ubiquitous and very controversial feature of American life. The benefits of outsourcing of course explain why it is occuring to such a great degree – lower labor costs mean greater profits for [...]