Month: May 2011

India’s Much Vaunted Freedom

I think the reports of India’s independence from colonial rule are severely exaggerated. Indians have been under foreign rule for several centuries and have become accustomed to being treated like irresponsible slaves, demanding to be controlled. Sure they do “democratically”… Read More ›

Pricing a Book

The pricing of a book is an interesting economics problem. For economic efficiency, the price should be equal to the marginal cost. But as often happens, marginal costs are sometimes far below average costs (due to fixed costs.) So P=MC… Read More ›