It is important to remind ourselves from time to time what poverty is all about. Poverty has something to do with production. Not exactly the most esoteric bit of knowledge but often it gets forgotten in the shuffle. To produce you need to have what we call factors of production which are usually broadly classified into land, labor, and capital.
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Day: December 4, 2003
The Law of One Price
Why the law of one price astonishes people is astonishing to me.
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