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Today, thanks to Application Programming Interfaces (APIs), diverse software can communicate with each other.

API Economies and the Modularization of Production

The dozens of apps on your phone can communicate with each other thanks to Application Programming Interfaces (APIs), which revolutionized software beginning in the year 2000. What are the economic ramifications of modularized production, where add-ons and expansions abound?...
4 min read
Man sitting on a scooter looking at his phone
Behavioural economics Business economics Competitive markets

The Gig Economy Revolution: Freedom or Precarity?

Published on December 29, 2024

Windfarm at dusk on a green hillside.
Behavioural economics Business economics Competitive markets

Externalities and Pigouvian Policy: Pricing the Full Social Cost of Green Energy in Europe

Published on December 27, 2024

Inside a warehouse.

How to Calculate Warehouse Rental Value: A Total Cost and Unit Economics Framework

Published on December 26, 2024

Bundled cardboard boxes with blue tape over them
Behavioural economics Business economics Competitive markets

Economies of Scale and the Socialization of Fixed Costs: Why Size No Longer Belongs Only to Firms

Published on December 25, 2024

Tax Multiplier Formula
Definitions Managing the economy

Tax Multiplier Formula

Published on December 21, 2024

Hand holding iphone in front of a laptop.
Behavioural economics Competitive markets

Cost Curves and Fixed Costs: How No-Code Platforms Are Democratizing Software Production

Published on December 21, 2024

A sign reads, "The future of work is HYBRID," in front of a modern building with glass windows and beige walls.

Understanding Hybrid Working in London: An Educational Guide for Modern Workplaces

Published on December 21, 2024

A close-up view of rows of shiny gold bars, each stamped with "FINE GOLD 999.9" and weighing 1000 grams.

The Strategic Role of Physical Gold and Silver in UK Wealth Preservation

Published on December 21, 2024

A precision robotic arm hovers over a circuit board with illuminated buttons, showcasing advanced technology in a manufacturing environment.

Why Skilled PCB Assembly Has Real Economic Value

Published on December 21, 2024

A network of stylized human figures connected by blue lines on a gradient background, representing social connections or teamwork.

Why Reliable Business Communication Still Drives Growth in the Digital Economy

Published on December 19, 2024

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AI can work much faster than human employees, but rates of AI hallucinations and other errors remain significant.

The Economics of AI Hallucinations and Error Costs

AI can be great, but "AI hallucinations" are frequent when AI software attempts to plug in data holes with information that it creates. This can include "ghost citations" of false sources of information. What will firms do to limit the dangers of AI error?...
4 min read

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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
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