VALUE PRICE marginal utility

Prada stores carry a few obscenely expensive items in order to boost sales for everything else (which look like bargains in comparison). People used to download music for free, then Steve Jobs convinced them to pay. How? By charging 99 cents. That price has a hypnotic effect: the profit margin of the 99 Cents Only … Continue reading VALUE PRICE marginal utility

Banking on Values

"A fool is someone who knows the price of everything and the value of nothing". Central banker Mark Carney has diagnosed a crisis in value(s). He doesn't just mean prices being misaligned with values as in frothy asset overvaluations. That's just a symptom of a deeper malaise. The central idea of his book, says the … Continue reading Banking on Values

MACRO next paradigm, hetero + pluralist

MACROnext - contents : hetero blogs  hetero associations, networks, organisations hetero commentary on mainstream textbooks rethink, reconstruct, reform > pluralist economics  history, philosohpy + sociology of economics    Heterodox economics is any economic thought or theory that contrasts with orthodox schools of economic thought, or that may be beyond neoclassical economics.  These include institutional, evolutionary, … Continue reading MACRO next paradigm, hetero + pluralist