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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
A sleek white private jet parked on a runway under a bright blue sky with fluffy clouds, showcasing its elegant design.

Reducing Transaction Costs: Transportation Innovations for Global Business Events

Published on November 28, 2024

Business Investment Trends 2025: How AI, Data and Supply Chains Shape Productivity and Growth

Business Investment Trends 2025: How AI, Data and Supply Chains Shape Productivity and Growth

Published on November 27, 2024

Computer screen showing stock market data with a red graph going downwards indicating a decline.
Forex Trading Managing the economy

What Caused the Stock Market Crash of 1929?

Published on November 26, 2024

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Definitions Business economics

Collective Bargaining Definition

Published on November 25, 2024

A friendly robot with a white and black design gestures hello while sitting at a desk with a laptop in a modern office setting.

Shifting the Cost Curve: How AI Voice Drives Extreme Economies of Scale in Content Production

Published on November 25, 2024

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Definitions Managing the economy

Expansionary Fiscal Stance

Published on November 24, 2024

A digital credit card surrounded by a network of blue circuit lines on a dark background, symbolizing online transactions.

Blockchain Payment Gateways and Transaction Costs

Published on November 23, 2024

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Definitions Business economics

Cheapening of Electronic Products

Published on November 22, 2024

Image of a warehouse well ordered and neat.
Business economics Competitive markets Behavioural economics Global economics

Modular Capital and the Fragmentation of Industrial Demand: Economies of Scale vs. Economies of Scope

Published on November 22, 2024

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Definitions Managing the economy

Austrian School of Economics

Published on November 21, 2024

Newer Posts
Page 20 of 176
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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
May 18, 2026

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