Kenneth Boulding, President Kennedy’s environmental adviser said something about this: “Anyone who believes in indefinite growth in anything physical, on a physically finite planet, is either mad – or an economist.”
Wages are the opportunity cost of leisure. The higher the wage rate, the more hours of leisure a worker will forego and the more hours of labour he will supply.
We don’t make choices based on our internal preferences. Instead, we have a gut feeling about what it is we want, and go through a process of justification and rationalisation in order to manipulate our[…]
It is not uncommon to see a large number of people using spreadsheets in their work. As a matter of fact this tool can be of great help to speed calculations, explore models and even[…]