Homines libenter quod volunt credunt
Posted in Economic Illiteracy on Nov 16th, 2010
You might be puzzled by what I am about to write given that I once wrote this. Every Monday, Wednesday and Friday I get up around 5:00am to get to work early so that I can prepare for my 9:00am class. On those days, I tend to stop at Tim Horton’s for a medium coffee […]
Posted in Economic Illiteracy on Apr 17th, 2008
In medieval Europe, manufacturers sold durable goods to anonymous consumers in distant markets, this essay argues, by making products with conspicuous characteristics. Examples of these unique, observable traits included cloth of distinctive colors, fabric with unmistakable weaves, and pewter that resonated at a particular pitch. These attributes identified merchandise because consumers could observe them readily, […]