Category: Economics
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Latin phrases and Greek letters for economists
Read moreLatin phrases for economists Phrase Translation A priori Pre-supposed; your “priors beliefs”. Ad infinitum To infinity; and so on. Ad valorem Per value; a 10% tax is an ad valorem tax, whereas a duty per…
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A note for the free marketeers
Read moreOftentimes I hear conservatives argue for freer markets on efficiency grounds. Typically this will take the form of a pseudo-counterfactual, along the lines of “Well if there were profits to be made in this market,…