Month: December 2015

Often when I have pushed economists about how unrealistic their perfect market assumptions are, they have pushed back with the claim that free market equilibrium […]

Last week, I ended by talking about production costs and how they undermine the neoclassical idea of the supply curve. The supply curve relates the […]

Last week, we saw that microeconomics textbooks teach backwards, starting with demand rather than supply. This week, we explore another example of backwards logic: how […]