flâneur

Kaifee Haque

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on the atlas — 8

highlights — 5

  • In economics, the Baumol effect, or Baumol's cost disease, first described by William J. Baumol and William G. Bowen in the 1960s, is the tendency for wages in jobs that have experienced little or no increase in labor productivity to rise in response to rising wages in other jobs that did experience high productivity growth.[1][2] In turn, these sectors of the economy become more expensive over time, because the input costs increase while productivity does not. Typically, this affects services more than manufactured goods, and in particular health, education, arts and culture.[3]
    Baumol effect
  • HHI is calculated by squaring the market share of each competing firm in the industry and then summing the resulting numbers[4] (sometimes limited to the 50 largest firms[5][6]). The result is proportional to the average market share, weighted by market share. As such, it can range from 0 to 1.0, moving from a huge number of very small firms to a single monopolistic producer. Increases in the HHI generally indicate a decrease in competition and an increase of market power, whereas decreases indicate the opposite.
    Herfindahl–Hirschman index - Wikiwand
  • Scholars consider the Hepburn Act the most important piece of legislation affecting railroads in the first half of the 20th century. Economists and historians debate whether it crippled the railroads, giving so much advantage to the shippers that a giant unregulated trucking industry—undreamed of in 1906—eventually took away their business.[10]
    Hepburn Act - Wikiwand
  • the law prevents suppliers, wholesalers, or manufacturers from supplying goods to "preferred customers" at a reduced price. It also prevents coercing suppliers into restrictions as to whom they can and can't sell goods.[2][3] This means that it is illegal for a supplier to sell one truckload of goods at a steep discount to a large business, such as Walmart or Amazon, and then charge a substantially higher price for a truckload of identical goods to a small business, such as a local grocery store.[4] The law grew out of business practices in which chain stores were allowed to purchase goods at …
    Robinson–Patman Act - Wikiwand
  • The sale price of land is determined by what’s known as the “capitalized value” of all the future land rents. People sometimes also refer to this as the “net present value” and basically it’s how much of a lump sum payment would be considered equivalent to all the future rent, adjusted for interest/inflation/etc. When the LVT is set at a 100% rate, then the profits from rent equals zero — all of the land rent goes toward paying the LVT, instead. So the net present value of all those future zero rents is still zero. This doesn’t mean land is “free” it simply means the cost of owning land is pai…
    Harberger Tax : r/georgism