"In the real world, the distinction between entrepreneurs and capitalists is blurry. If a business loan were truly risk-free, then the capitalist would earn a guaranteed return on his or her loan and would be selling "services" for an agreed-upon price just as the utility company sells electricity to"
"Keep in mind that economists don't rely on a theory of supply and demand; they rather use them as tools. The concepts of supply and demand are ways of viewing the world. The allow economists to group different forces or causes into two different categories, in order to think clearly and systematical"
"The list of causes could be huge, including the weather, the producers' forecasts of future customer behavior, and even the possibility of civil war. After they have come up with a list of all the different factors that could influence producers' decisions constant, except they allow the price of th"
"The subject of interest, and the explanation of how markets determine particular interest rates, can be one of the most complicated areas in economic theory. In the present lesson we will obviously just cover the basics. Essentially, interest has to do with time."
"One important difference between the crimes of capitalist regimes versus socialist ones - important at least in terms of evaluating them as economic systems - is that the crimes of captialist regimes largely concerned outside victims, whereas the deaths we document below occured among the socialist "