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If emigration had been included in the Olympics when they were first introduced, Ireland would be a great sporting nation. Nonetheless the scale of the emigration is sometimes slightly exaggerated. I have seen it stated…

Students ask me this all the time, so here’s my explanation of the three types of inefficiency. 1. Productive inefficiency. This is a supply-side idea. Mattie and Joe both produce bananas. The bananas are identical.…