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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
Shaping Economies: The Impact of VPNs in Nations with Restricted Internet

Shaping Economies: The Impact of VPNs in Nations with Restricted Internet

Published on January 24, 2024

Capital Account of the Balance of Payments
Definitions Managing the economy

Capital Account of the Balance of Payments

Published on January 24, 2024

Image of an older woman showing a young girl something on a laptop, the young girl is engaged in schoolwork.
Competitive markets

The Resilience of Human Instruction: Examining the Economic Principle of Comparative Advantage

Published on January 23, 2024

Photograph of a hand handling coins inside of a wooden box.
Behavioural economics Managing the economy

The Ripple Effect of Microlending on Economic Growth: A Study Through the Lens of the Multiplier Effect

Published on January 20, 2024

A 3d graphic of various social media and tech companies' logos
Business economics Managing the economy Competitive markets

Social Media Views as a Liquid Store of Value: Analyzing the Role of Network Effects

Published on January 20, 2024

Three vertical box plots in green and red colors representing statistical data distributions.

Fear and Greed: The Emotional Side of Market Behavior

Published on January 18, 2024

A person with an umbrella stands between a charging bull and bear, symbolizing market volatility.

What Happens After You Sell Your Shares on the Stock Market? Understanding the Settlement Process

Published on January 18, 2024

A Decade of Economic Engineering: Lessons for Job Creation in the UK

A Decade of Economic Engineering: Lessons for Job Creation in the UK

Published on January 17, 2024

Autarkic: A Comprehensive Guide
Definitions Global economics Managing the economy

Autarkic: A Comprehensive Guide

Published on January 16, 2024

Illustration of a hand tapping an 'Update' button on a smartphone screen with app icons in the background.

The Principle of Substitution: How Browser-Based Services Are Outcompeting Application-Based Businesses

Published on January 16, 2024

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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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