Would Trustworthiness Balance the Self-Interest and Controls?
"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest." - Adam Smith, The Wealth of Nations. Above is the famous quote from Adam Smith in support of the argument "how self-interest in free market" creates the necessary demand and supply condition resulting in productive economic transactions and the wealth in a society. Those who quote this statement of Adam Smith in support of the free
Non- Linear See Saw Effects and Consequences
Often we believe in linear and proportional impacts among the cause and effect relationships. Say for example, 5% (X%) increase in demand will result in 10% (Y%) hike in price and vice versa. Or 10% decline in consumption of a commodity will cause proportionate level of impact in the price, profitability or industry output. Or presuming that a 1000 point rise/decline in stock market index roughly corresponds to proportional respective increase/decrease in size of GDP or econo
How the craft beer revolution started
http://www.bbc.com/news/business-35120401 But beer is about more than availability and alcohol content. Beer is about individuality, heritage, tradition, exploration, and taste and smell captured there in the glass. Craft brewers rebelled against mass produced beer At least that's what the so-called craft brewers tell me. "Craft", "artisan", "micro" and "nano" are cult adjectives that arouse wariness, like stone-baked and handmade. But even if you are nervous about the use of
