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Shoppers outside of a store of a well-known luxury brand that counts as a Veblen good, meaning popularity increases as price increases.

The Economics of Social Status: Why We Pay More for Less

Veblen goods are luxury goods that violate the Law of Demand, which states that quantity demanded of a good falls as price rises. Veblen goods actually become more popular as prices increase. Why is this the case? Can the purchase of such goods be reasonable?...
5 min read
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Factors of production Labour markets Business economics Competitive markets

Comparative Advantage in the Age of Automation: The Impact of AI on Global Trade Dynamics

Published on February 09, 2025

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Managing the economy Labour markets

The Inefficiency of Venture Capital in the Modern Economy: A Result of Oversaturation and Excess Capital

Published on November 12, 2024

Two windmills on a hilltop with a scenic background of mountains, a lake, and a sunset sky.
Business economics Managing the economy Labour markets Behavioural economics Global economics

The Impact of Small, Highly Efficient, and Cheap Nuclear Reactors on Developed Economies: A Focus on Energy Costs and Transportation

Published on November 11, 2024

An image of a typewriter with a "Job Application" written in a paper.
Definitions Managing the economy Labour markets

Natural Unemployment Formula

Published on October 07, 2024

A box of crayons in focus with a blurred child drawing in the background wearing a striped shirt.
Business economics Labour markets Market Failure

Exponentially Rising Tuition Costs Suppress Economic Growth in the U.S.

Published on October 05, 2024

A man working on a task in front of a small, cluttered shop filled with tools, materials, and everyday items.
Definitions Labour markets

Backward Bending Supply Curve

Published on September 04, 2024

Image of a person counting dollar bills.
Definitions Labour markets

Sticky Wages

Published on August 28, 2024

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Factors of production Managing the economy Labour markets Market Failure

Labor Market Polarization and the Rise of the Virtual AI Agent for Sales Calls: An Application of Routine-Biased Technological Change

Published on July 26, 2024

Image of a computer screen displaying a program used for video editing.
Behavioural economics Business economics Competitive markets Factors of production Managing the economy Labour markets

Labor Market Polarization: AI and the Reshaping of the Video Editing Industry

Published on June 25, 2024

Sign showing the word "silver" in various language
Behavioural economics Business economics Competitive markets Labour markets

How Nudge Theory Is Transforming Customer Loyalty Through Behavioral Economics

Published on April 28, 2024

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Older Posts
Main Economic Implications of SWOT Analysis for Web Development Company

Main Economic Implications of SWOT Analysis for Web Development Company

How can a company make smarter decisions in a fast-changing business environment? A SWOT analysis offers a great starting point. For compani...
7 min read

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