Economics Archives

The Fabless Business Model: Prioritizing Design

What is a fabless business model? Do companies benefit from prioritizing design over manufacturing? The fabless business model is a design-centric model wherein a company focuses only on designing products rather than both designing and manufacturing. Digging deeper into the origins of the fabless model, you can see where and how this model has played a role in economic development. Continue reading to learn what makes the fabless model successful.

What Is Conscious Capitalism? Definition and Benefits

What is conscious capitalism? Why is there a need for an improved version of capitalism? In Conscious Capitalism, John Mackey and Rajendra Sisodia explain why they believe free-market capitalism benefits people, despite common critiques of the system. They further explain how conscious capitalism improves on traditional capitalism, addressing those critiques. Continue reading for a breakdown of conscious capitalism and how it benefits businesses.

The Pros and Cons of Dynamic Pricing (& Is It Ethical?)

What is dynamic pricing? Who does dynamic pricing benefit and harm? Dynamic pricing, also known as surge pricing, is spreading across US industries—from flights and rideshares to restaurants, retail, and entertainment. Dynamic pricing can help companies, but it’s also criticized for exploiting consumers, harming lower-income buyers, and eroding customers’ trust. Here’s a look at dynamic pricing pros and cons.

3 Capitalism Myths: Explained and Debunked!

What are common capitalism myths? Is free-market capitalism good for society? According to Conscious Capitalism by John Mackey and Rajendra Sisodia, free-market capitalism is the ideal economic system. However, there are some misconceptions about capitalism. Continue reading for a deeper dive into these capitalism myths.

The Solution to Capitalism: Should We Fix It or Ditch It?

What’s the solution to capitalism? Does capitalism need to be replaced or can it be improved? Capitalism has come under scrutiny in recent years, and while capitalism is theoretically sound, it’s misunderstood and implemented poorly. Thankfully, Conscious Capitalism by John Mackey and Rajendra Sisodia has the solution to capitalism. Here’s how Mackey and Sisodia would fix capitalism with an improved version.

Why Is Conscious Capitalism Important? To Please Everyone

Why is conscious capitalism important? How does conscious capitalism benefit businesses and society? In Conscious Capitalism, John Mackey and Rajendra Sisodia discuss how conscious capitalism benefits all interested parties in businesses. They further explain why each party is important to business to emphasize why this economic system is so crucial. Keep reading to learn how conscious capitalism takes everyone into account.

Linking Natural Resources and Wealth: For Richer or Poorer

Do natural resources make a country wealthy? What if natural resources are the primary driver of a nation’s economy? A key factor of geography theory is access to natural resources—everything from farmable land to oil to fresh water. These resources can determine whether a nation becomes rich or poor. But, it’s not necessarily a straightforward proposition. Continue reading to learn about the complex link between natural resources and wealth.

Geographic Inequality: How Resources & Topography Impact Wealth

When are natural resources a detriment rather than a benefit to a nation? How can the presence of a coastline make a country richer? The geography theory of international inequality argues that differences in the physical locations of countries determine—or at least strongly influence—their economic success. Proponents of this theory point to two main geographical factors: natural resources and topography. Read more to learn about these factors that can lead to geographic inequality among nations.

Linking Culture and Economy: 3 Values That Affect Wealth

Why do Protestant nations generally have more wealth? Why did the American South develop more slowly than the North? It’s no secret that some countries and regions have more wealth than others, but it’s not always obvious why that is. Proponents of cultural theories of inequality argue that three cultural values contribute to whether a nation is rich or poor. These are work ethic, openness to new ideas, and public trust. Read more to learn about the intriguing connection between culture and economy.

Global Wealth Gap Solutions: From Karl Marx to Thomas Sowell

Is the global wealth gap inevitable? Is it possible that we can minimize—or even close—it? Some countries have more wealth than others because of some combination of geographical differences, cultural differences, political differences, and exploitation. Various economic analysts have suggested some ways that nations and peoples can work to close the gap. Keep reading to learn about three proposed global wealth gap solutions.