Choi: 197 books

The human spirit is at the heart of Conservatism. Conservatives have become a marginalized and misunderstood demographic in our pop-political culture. They are not as they are often portrayed: greedy, racists, sexist, homophobic and violent. Rather, they believe in equality, opportunity, accountability,...

The alphabet that has wasted so much time and energy of so many economists: q.

Does Economics have any demand and supply model? The question looks superfluous, and the answer should be definitely positive. E.g., there is one in the tax incidence theory, but in which market is such theory applicable? Is it applicable to international trade? No, for import and export are two different...

A new brand of entrepreneurs has arrived on the business scene, carrying with them a whole new set of values. They possess a sense of mission – to be socially responsible, protect the planet, and do the right thing for all of their stakeholders. Rather than focus exclusively on financial gain, they...

You know that comparative advantage helps explain trade, but when higher production cost from specialization eliminates such advantage, how can you then have trade? Some people support tariff for its triple benefit: it generates government revenue, eliminates trade deficit and raises social...

If your wage rate originally was $100, then there is inflation of 10%, your real wage rate becomes $90. Perhaps, you may ask your boss to give you $110 nominal wage rate, so that your real wage rate remains unchanged. When you have deposited $100 with a bank, and the interest rate was 10%....

You have probably heard of Ricardo’s rent theory, which is a perpendicular line. You may also have heard of the rent gradient function, which is a negative curve. So, which one is the correct rent theory? People may choose to live away from city center because of the lower rent, but why is city...

Economists like to brag about their demand and supply theories. For example, they claim there is a law of demand, with the negative relation between price and quantity. But can they derive such relation? Some use utility or indifference curve to derive one, but from the same basis one can also derive...

This book is about international trade, and shows how fake statistics have blinded, and false theories have fooled, some people to impose tariff and other protectionist measures to hurt themselves and others.

(This book is an abbreviated version of Vol. 10, Unlocking the Trade Door. It contains only the first 7 chapters.) You know that comparative advantage helps explain trade, but when higher production cost from specialization eliminates such advantage, how can you then have trade? Some...

When economists could not solve their problems, they sought excuses in something called market failure. For example, when some old people could not find insurance coverage, economists blamed them for hiding their true and high risk, such that no insurance company dared to accept their premium. Economists...

Tax incidence theory influences not only tax policy, but also environmental protection theory. While most people believe that a tax can be, more or less, shared out, Arnold Harberger took a different view. However, his theory unintentionally still derives another sharing mechanism. So, can workers’...

Auction aims for highest possible price, but economists made two wrong extensions. Some thought the price can be indefinitely increased according to demand; some recommended discount to the successful bidder. The former mistake stems from the misunderstanding that the vertical line is a supply; while...

Abba Lerner was a very prolific economist, and his views were sometimes very thought provoking, but are they also correct? This volume includes three of his theories: The first is about how communist countries can catch up free market economy; The second is about how to improve trade deficit; The...