If you were to believe what price theory posits, then prices are supposed to be a signal, typically of quality/ value. However, anecdotal evidence and consumer surveys will tell everyone that, price theory does not hold up in numerous circumstances. The actual determination of price tends to be more complicated than in the usual Econ 101 or whichever classes. What these classes inform us of, are the types of considerations which are typically made when firms set prices, and h

So, a quick summary on how labour markets work: employers post job positions, people apply to those positions and there is a probability that they receive an offer for the job. Sometimes, there is no salary stated in the job advert, in which case when the prospective employee gets offered a job, they can either negotiate their wage, or accept/ reject the wage offered by the employer. In the case where the wage is mentioned in the job advert, the prospective employee accepts/

When I arrived in the United States, I did a little bit of exploring of the town I resided in, as anyone does when they move to a new place. I remember taking a picture of a house(?), storage unit(?), office(?) - but, it was constructed using what looked like corrugated metal, with a single entrance at the front. I titled the picture "Obsolete", because it was the only one I came across that day like it. Maybe there are others, I don't know. In my About me page, I talked abou

The Netflix and Warner Bros. Discovery deal got me thinking about things perceived to be controversial. Depending on your upbringing and background, your threshold of what constitutes as controversial is going to vary. As per usual, the implications of those assessments are going to affect choices, and thus outcomes. While the deal is receiving a lot of scrutiny in and of itself (cue DoJ and antitrust enthusiasts etc.), I am thinking about all of the media on said platforms,

When I think about cottage industry products in the US I think of Native American, Islander, Latin American and Western/ Americana goods, off the top of my head. Maybe there are additional categories I am unaware of; of course, there are also crafts of various groups which arrived in the US over the centuries. Western/Americana seems like a mélange. As factory production and commercialisation occurred, a lot of methods and innovations were incorporated by retailers. At least

The Trump administration did a few things today to "solve the high grocery price issue". I am not claiming I know all the fine print about the antitrust and regulatory issues, that have occurred in the US' farming industry. I am sure they have problems; no industry is perfect. However, I have basic understanding of the production process of farming. The sources of uncertainty that impact output; what is that saying? "As unpredictable as the weather?" - I wonder what that coul

In my previous post  ( An explanation of how I see things ), I talked about how I don't partake in political partisanship; I try to remain as apolitical as I can, and instead focus on outcomes. My approach is the same when it comes to religion: I try to keep a secular stance. In the most recent degree in which I participated, the topic I looked into for my research is how social corporate responsibility of firms affect their profitability. This is colloquially known as enviro

I guess I'll be keeping with the theme of healthcare again today. It is no secret that the rate of acceptable physical activity is falling amongst adult aged individuals. The most obvious culprit of that outcome, is technological advancement changing the nature of work, nature of transport and providing alternatives to outdoor activity. All of our devices and machines are ruling the day. This trend is inevitable, as an economy goes through the stages of development and become

I have caved - I am commenting on population level healthcare, albeit reluctantly. In m y previous post ( Controversial take: medicine isn't an exact science ) , I talked about how patient experience and response to medical treatments can differ from research in labs. I then go on to say, how the lack of emphasis on such differences, has larger implications on population level health. As I explained in my about me page ( About ), I have lived in various parts of the world, w

Environmentalism has a problematic image. The stereotype people perhaps think of, are slightly disheveled tree huggers, with odd tastes in clothing and shoes - although that likely has to do with the types of pro-environment products available to buy in the past. The landscape has clearly changed, as society has shown their increase in preferences for environmentally friendly products and initiatives. This is logical: with the depletion of finite resources, and having to deal

In my previous post ( AI and its ambitions ) , I talked about how I am in support of public education, mainly because of the aggregate benefits to society it provides. Schools are where the youth acquire the foundational knowledge and skills to use later in their lives. Simultaneously, they undergo character development as they learn, because they spend the vast majority of their time at schools. Educational institutions thus play an important role in a community. In terms of

The AI revolution has been underway for a while now. The hopes to wipe out humans, and replace them with AI robots to reduce costs and make knowledge/ decision making accessible to all. Technological change/ automation always comes with labour displacement; yet the prediction markets always somehow believe it reduces jobs for people and reduces the hours/ "burden" of work. As discussed on various finance/ news media, society does not seem to accurately predict the implication

I have been avoiding having to really delve into discussing culture, and therefore impose my preferences on it. There are so many aspects about culture that are sensitive due to its complexity, and in many ways off-limits. However, it is clear that there is a feedback loop between the economy and culture. The part I will be talking about is: power dynamics between age groups and gender. Oh no! I am one of those! Why are you surprised? The reason why I have chosen these two at

In my about me page ( About ), I discussed I lived in various nations throughout my life, mainly in urban areas in both developing and developed economies. In developing economies, I resided in the city with the highest level of comparative urbanisation. I am an urbanite, and my preferences are consistent with urban areas over rural areas. However, I am not entirely opposed to experiencing the rural setting every once in a while. It allows me to immerse myself in nature and t

This one is going to come off as offensive to those from medicine. Hear me out - hopefully I am not intensifying the target on my back. Although, I have talked about this before, so the rest of this blog post isn't an unexpected disruption. In one of my previous discussions ( An explanation of how I see things ), I briefly mentioned different disciplines answer questions/ do things in different ways. However, there is a lot of overlap in topics between subject areas. I am in

In a nutshell, fiscal policies need to exist (the why is actually rather a lengthy debate, so I can't go into it). However, as with any firm or business or agent providing goods/services, the government's ability to implement particular fiscal policies rests entirely on revenue vs costs. A government's revenue source is usually taxation, selling debt, creating income generating firms of their own etc. The costs therefore, are obviously all the programmes they provide for the

If you haven't read the 'About Me' section, I talked about how I have a background in economics and that I have lived in various nations through to my informative years. Thus, I have seen a set of outcomes through different policies and institutional settings. Ultimately, how one believes the world should operate, is highly dependent on your own philosophical beliefs. In essence, how much do you care about certain facts about society? The economy? And these beliefs are formed

Hi all - Today, I launch my blog.