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Today, firms use massive sets of data just as they would any other factor of production.

Data as Capital: Rethinking the Factors of Production

In the past quarter-century, digital data has become a new factor of production, allowing firms to create new products, communicate with suppliers and retailers, and advertise to customers. How does data affect firms' value, and how will it affect macro-level economic growth?...
4 min read
Recession
Definitions

Recession

Published on January 29, 2020

Definitions

Real wages

Published on January 29, 2020

Definition of Real National Income
Definitions

Definition of Real National Income

Published on January 29, 2020

Quasi-public goods
Definitions

Quasi-public goods

Published on January 29, 2020

Quantitative easing (QE)
Definitions

Quantitative easing (QE)

Published on January 29, 2020

Public goods
Definitions

Public goods

Published on January 29, 2020

Profit Maximisation
Definitions Business economics Competitive markets

Profit Maximisation

Published on January 29, 2020

Productivity gap
Definitions

Productivity gap

Published on January 29, 2020

Productivity
Definitions

Productivity

Published on January 29, 2020

Producer surplus
Definitions

Producer surplus

Published on January 29, 2020

Newer Posts
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If AI software scans you and decides you want the product more than average, should it be able to charge you more money?

AI Price Discrimination and the End of the “Uniform Price”

Sellers have long wished to be able to charge higher prices to customers who are willing and able to pay more. Now, with AI software, sellers may finally have the ability to quickly and accurately analyze customers' willingness to pay. Is this ethical?...
4 min read

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