What is meant by the term price taker? Define the term time deposit. What is meant by the term "division of labor"? Define the term margin of safety. Define the term risk premium. What is the meaning of a credit entry in the balance of payment?
Mercantilism states that the global supply of wealth is a fixed amount, and that therefore any gain of wealth by one nation must necessarily represent a loss by another. Mercantilism is therefore in many ways the opposite of the later laissez-faire capitalism promoted by economists such as Adam ...
When you try to present a perfect facade because you believe this is how you can show your commercial value or what you think people want to see, you hide the warts and scars of battles, and the uniqueness, passion, and emotion of yourself as an individual. The long-term outcome of thi...
The traditional leadership styles: autocratic, democratic, and laissez-faire Autocratic Leader - Strong control and oversight. - Downward flow of communication. - One individual makes decisions. - Criticism is punitive. - Different statuses (boss vs employees). ...
The Life of Chuck: The Feel-Good Stephen King Apocalypse Movie By Anthony Breznican One is Peter Thiel, the billionaire who helped fund NatCon and who had just given the conference’s opening address. Thiel has also funded things like the edgelordy and post-left–inflected New People’...
What is behind such a strong reaction, by the same people who used to tout milk as the most nutritious of substances only a couple of decades ago? Why do Americans, in particular, have such strong feelings for or against milk? And why are there suddenly so many people who are lactose ...
This was, of course, a gross misunderstanding of Darwin’s work. First, Darwin never used the term, “survival of the fittest,” which was actually coined by Spencer himself. Secondly, Darwin never meant to suggest that there are certain innate qualities that make one individual better than ...
as it is about the general concept of free-will (AKA individual liberty). Conversations about the first use of the term “liberal” aside, we can see the tenants of liberalism in the works of Plato, Cicero, Machiavelli, Locke, America’s founders, and more. The general championing of reas...
This is a relatively light weight justification, since advocates of affirmative action themselves generally concede that they would push equality even if it lowered the overall good of society. Moreover, it is easy to point out the disastrous long-term consequences to society of using a quota ...
What we would like to do is share the costs of the school project fairly, and take equal amounts of the needed resources from each citizen – or rather take those resources in proportion to the citizen’s ability to contribute. But not everyone has a little bit of concrete, or a little...