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
Tag: PRICES
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
hetero, post keynesian theguardian 3-2023 ‘Our staff members are social activists’: the university with a critical approach to economicsEconomist and best-selling author Ha-Joon Chang says that students at Soas University of London are encouraged to look at the failures of capitalism https://www.taylorfrancis.com/chapters/edit/10.4324/9781315177731-8/introduction-critical-political-economy-multi-paradigmatic-setting-johannes-j%C3%A4ger Introduction to critical political economy in a multi-paradigmatic setting - By Johannes JägerBook … Continue reading MACRO next paradigm, hetero + pluralist