Ah, the Pareto principle.  What exactly is it, and why are so many people enamored with it? In the early 1900s, an Italian economist na...

The fundamental problem (sometimes referred to as "the economic problem") that economists study is one of scarcity. Scarcity ...

Ray Bradbury died Tuesday at the age of 91.  In 1953, he wrote Fahrenheit 451 , which is one of my all-time favorite books.   Bra...

This is the lecture (given in an undergraduate Family Economics course) that started it all.   The "traditional" (or n...

Wikipedia, as a whole, rocks my face off.  I could probably spend entire days on it, looking up stuff.  In fact, this panel from one of ...

This is how I think about the concept of ceteris paribus in economic thought.  It’s a nice way to make things work out swimmingly, but re...