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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
Apple Products Are Increasing Their Global Market Share

Apple Products Are Increasing Their Global Market Share

Published on July 25, 2023

Bimetallism Explained
Definitions Managing the economy

Bimetallism Explained

Published on July 25, 2023

What is Proprietary Trading, and How Does It Work?

What is Proprietary Trading, and How Does It Work?

Published on July 24, 2023

Has Machine Learning Become the New Trading Standard for Delivering Accuracy on Wall Street?

Has Machine Learning Become the New Trading Standard for Delivering Accuracy on Wall Street?

Published on July 24, 2023

FOMO – good for business, bad for mental health. How can we flip the trend?

FOMO – good for business, bad for mental health. How can we flip the trend?

Published on July 20, 2023

Price Ceiling Demystified
Definitions Managing the economy

Price Ceiling Demystified

Published on July 16, 2023

Relative Poverty
Definitions Managing the economy Global economics

Relative Poverty

Published on July 11, 2023

Productive Efficiency
Definitions Managing the economy Competitive markets

Productive Efficiency

Published on July 06, 2023

Capital Flight
Definitions Global economics Managing the economy

Capital Flight

Published on July 06, 2023

Horizontal Integration
Definitions Business economics

Horizontal Integration

Published on July 05, 2023

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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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