Economics @ ITT

Sir Richard Branson talks about Virgin, Innovation, and Disruption

Posted in economics, oligopoly by ittecon on May 20, 2013

How to differentiate in an oligopoly market.

Thomas Friedman Goes Euphoric on Energy Production

Posted in economics, International Economics by ittecon on February 26, 2012

Dean Baker comments on Thomas Friedman’s “vision” of US energy independence.

[I]magine that there were severe droughts in Africa and Asia that caused the world price of wheat to quadruple. Guess what would happen to the price of wheat in the United States? That’s right, it would also quadruple. The reason is that wheat producers would export their wheat to take advantage of the higher prices available elsewhere in the world, so we would have to match the world price in what we paid for the wheat consumed in the United States.

via Thomas Friedman Goes Euphoric on Energy Production | Beat the Press.