- Cheap fossil fuels were undoubtedly a major element in China’s very high levels of economic growth.
- If Canada were to unilaterally cut its emissions, the impact on global emissions would be tiny. 984 kata lagi
In 1776, Adam Smith popularized the idea of specialization:
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If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our own industry employed in a way in which we have some advantage.
In the Introduction of this rather readable, entertaining book on the theory of economics (an entertaining book on economics – who’d have thought it?), editor Donald Marron writes: ”Economists […] study how fundamental social forces explain everything from the price of bread to the wealth disparity between the United States and Zimbabwe.” 434 kata lagi
In my talk last week at the Mercatus Conference on Monetary Rules for a Post-Crisis World, I discussed how monetary rules and the thinking about monetary rules have developed over time. 2.020 kata lagi