Category Archives: Econ 101

understanding the fall of detroit

Posted on August 1, 2013 by christopher fisher

In 1907 Eugene Richter wrote a book entitled “Pictures of the Socialistic Future”. The rise of communism and socialism did not occur until decades later, which makes the accuracy of Richter’s prophecies more chilling. Ritcher applied basic economics to how … Continue reading →

Posted in Econ 101, Economics, Goverment, History, Human Nature, Labor, Leftists, Price Controls, State Worship, Taxes | Leave a comment

omnipresence and rational irrationality

Posted on July 19, 2013 by christopher fisher

When I was about 14 years old, I approached my father to ask him a theological question. I had, ever since I was little, been taught God was omnipresent (that he was everywhere at once). But on this particular day … Continue reading →

Posted in Bible, Calvinism, critical thinking, Econ 101, Economics, Figures of Speech, God, Omnipotence, Omnipresence, Open Theism, Theology | 4 Comments

price controls topple regime

Posted on July 10, 2013 by christopher fisher

There is a major story that all Mainstream Media seems to have missed. While the MSM report on the riots in Egypt and the overthrow of the Morsi regime, they miss the real cause. Here is Michael Amerhom Youssef: More … Continue reading →

Posted in Econ 101, Economics, Goverment, Leftists, Price Controls | 3 Comments

all I really need to know I learned from video games – part 2

Posted on July 3, 2013 by christopher fisher

Another game I played during my summer months while home from college was RuneScape. In RuneScape, individuals can fish, mine, chop trees, cook, or pick from a dozen other skills to level. Each skill produces items which can be sold … Continue reading →

Posted in Econ 101, Economics, Labor, Trade, Video Games | 1 Comment

all I really need to know I learned from video games – part 1

Posted on July 2, 2013 by christopher fisher

From Thomas Sowell’s Basic Economics: If the entire contents of a store get sold out in about two weeks, then that penny on a dollar becomes more like a quarter on the dollar (26 cents, to be exact) over the … Continue reading →

Posted in Econ 101, Economics, Trade, Video Games | 4 Comments

businesses compete with themselves

Posted on June 19, 2013 by christopher fisher

When people think of competition, they often do not understand that there are far more sources of competitive pressure than other businesses. Individuals might shift to DIY activities, like I did when I could not find sturdy, cheap shelving for … Continue reading →

Posted in Econ 101, Economics, Trade | Leave a comment

price controls cause famines

Posted on June 18, 2013 by christopher fisher

Thomas Sowell, in his Basic Economics, has an excellent chapter on price controls. Because prices naturally settle at an equilibrium price, if the government uses artificial means to set prices then there will either be a shortage or a surplus … Continue reading →

Posted in Econ 101, Economics, Goverment, History, People, Price Controls, Sowell | 4 Comments

the free market solution to free riders

Posted on June 17, 2013 by christopher fisher

I wrote this years ago to explain to a professor that free riders (specifically those gaining benefits from the free actions of other people in a market economy) is not a market failure: In a normal market economy both the … Continue reading →

Posted in Econ 101, Economics, Trade | 1 Comment

value is subjective – rap video

Posted on June 2, 2013 by christopher fisher

Below is a good primer on “value being subjective”:

Posted in Econ 101, Economics, videos | Leave a comment

econ 101 – wealth creation

Posted on May 30, 2013 by christopher fisher

When economists talk about wealth creation, they are usually referencing the differentials in what value people are willing to pay from something and what the value the seller would be willing to sell for that same thing. This is known … Continue reading →

Posted in Econ 101, Economics, Standard of Living, Trade | 1 Comment