Tag Archives: Wealth

Foundations of Economics Series: Every Man for Himself

Foundations of Economics Series: Every Man for Himself

As previously discussed in this Foundations of Economics series, economic competition is the process of establishing who produces what in our division of labor economy. Through economic competition, millions of individuals decide in commercial transactions who best utilize our limited resources to produce wealth and the best process for producing that wealth. In other words,

Foundations of Economics: It’s Not a Jungle Out There

As we have examined in Part 2 of this Foundations of Economics series, in a division of labor economy we each focus on producing one or a few things while depending on everyone else to produce the majority of things we need and want.  The obvious question arises, then, of who should produce what?  A

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