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Thanks to APIs, many programmers can create add-ons and extensions to existing software.

API Economies and the Modularization of Production

Thirty years ago, you had to buy entirely new software when your current program became obsolete. Today, you can download an extension, patch, or upgrade. Thanks to APIs, application programming interfaces, these "modular" additions to software can come from virtually anywhere....
4 min read
Understanding Keynesian Theory of Excessive Saving
Managing the economy

Understanding Keynesian Theory of Excessive Saving

Published on September 24, 2021

The Lorenz Curve
Definitions Managing the economy Behavioural economics Business economics

The Lorenz Curve

Published on September 24, 2021

Complementary Goods Defined
Definitions Business economics

Complementary Goods Defined

Published on September 24, 2021

Aggregate Economic Output Levels in U.S
Competitive markets Global economics

Aggregate Economic Output Levels in U.S

Published on September 24, 2021

Using Asymmetric Information To Understand How Markets Work
Labour markets Managing the economy

Using Asymmetric Information To Understand How Markets Work

Published on September 24, 2021

What Is Deadweight Loss?
Definitions

What Is Deadweight Loss?

Published on September 24, 2021

Defining Capital Goods
Definitions

Defining Capital Goods

Published on September 24, 2021

Economics Related Courses You Should Study in 2022

Published on September 21, 2021

The Ultimate Guide to Selecting a Broker for Forex Trading
Forex Trading

The Ultimate Guide to Selecting a Broker for Forex Trading

Published on September 20, 2021

What Is An Economic Stimulus Package?
Managing the economy Definitions

What Is An Economic Stimulus Package?

Published on August 26, 2021

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Although increasingly popular, AI still makes serious mistakes...which could cost companies big bucks in damages.

The Economics of AI Hallucinations and Error Costs

To save money on labor, many companies want to use AI to automate basic office functions, from customer service to research. However, AI is prone to making mistakes that are confidently presented as accurate facts. What are the economic implications of unchecked AI use by companies?...
5 min read

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