In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. It is a basic good used in commerce that is interchangeable with other goods of the same type. The world we know today is built on commodities. Have you ever thought where …
The Value of Everything: Making and Taking in the Global Economy by Mariana Mazzucato ’’Modern economies reward activities that extract value rather than create it. This must change to ensure a capitalism that works for us all.’’ Who really creates wealth in our world? Who is creating it, who is extracting it, and who is destroying it? And how do we decide the value of what they do? …
Wealth of States: More Ways to Enhance Freedom, Opportunity and Growth A great book! The authors explain how even states with small populations can benefit with the right policies. Also, watch the video with one of the authors, Arthur B. Laffer best known for the Laffer curve – a theory showing a theoretical relationship between rates of taxation and the resulting levels of government revenue.