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The art of economics consists in looking not merely at the immediate hut at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups—Henry Hazlitt

Showing posts with label consumer surplus. Show all posts
Showing posts with label consumer surplus. Show all posts
Saturday, November 17, 2012

Picture of the Day: Thanks to Capitalism, These Gadgets Now Fit in your Pocket

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(Hat tip AEI’s Prof Mark Perry ) Capitalism has brought about dematerialization , which has converge d the benefits of manifold t...

Quote of the Day: Manufacturing Fetishism

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The rear cover of the iPhone tells you it is designed in California and assembled in China. The phone sells, in the absence of carrier sub...
Saturday, July 09, 2011

Video: Consumer Surplus From Internet and Mobile Technology

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Consumer surplus, according to Wikipedia.org , is the "difference between the maximum price a consumer is willing to pay and the actua...
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