When people think about their own business skills, some don’t understand there are three contexts. First, people usually know their own business, meaning their functional duties. The duties they do day-to-day within the larger organization. This amounts to a great...
Many Americans who have not been introduced to the economic underpinnings of free trade (both imports and exports) think trade hurts America. This misunderstanding has been around for decades. The infamous Smoot-Hawley Act was about trade sanctions to “protect”...
The Biz Bucks Guy believes everyone should understand the basic Supply and Demand Model from micro-economics. One example of its use leads to an understanding of the effects of minimum wage laws and price controls, in general. In Part A, let’s look at the model itself...
Burton Malkiel is a hero to The Biz Bucks Guy. His 1973 book, A Random Walk on Wall Street is a classic and spawned the index fund industry. Together with John Bogle, founder of index-purveyor Vanguard, Malkiel has saved millions for millions. Simply put, Malkiel’s...
There is an immutable law of economics that is not well understood by the general public. Based on the laws of supply and demand, a free market will settle to a point that is both acceptable to the suppliers and to the demanders. This is called the market clearing...
Today, Tuesday, July 31, 2012 is Milton Friedman’s 100th birthday. Dr. Friedman, who died in 2006 at age 94, was the first and arguably the premier macroeconomist in favor of free enterprise. He was (and still is) one of the most influential figures in American...
