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RETURNS TO SCALE: Changes in production the occurs when all resources are proportionately increased in the long run. Returns to scale answers the question: If labor, capital, and ALL other inputs increase by 10%, does output increase by more than 10%, less than 10%, or exactly 10%? These answers indicate that returns to scale can take one of three forms: increasing returns to scale, decreasing returns to scale, and constant returns to scale.

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A PEDestrian's GUIDE to the ECONOMY

Through undaunted determination, sheer luck, or a missed turnpike exit, you have happened upon A PEDestrian's GUIDE to the ECONOMY. You'll find hours of reading pleasure contained within this site, with more entertainment value per calorie than most office memos. A PEDestrian's GUIDE to the ECONOMY, however, is more than a recreational web site. As a handy reference source, it provides answers to many of the most asked, a few of the least asked, and some of the never asked questions about the economy.

Feel free to browse through assorted issues using the handy table of contents printed below.

Table of Contents

A Brief Introduction To Get You Started

The Seven Facts of Economic Life

Fact 1: Our Limited Pie
Fact 2: Our Subjective Values
Fact 3: Our Unfair Lives
Fact 4: Our Monopolized Markets
Fact 5: Our Necessary Evil
Fact 6: Our Unknown Economy
Fact 7: Our Circular World
A Whole Bunch of Issues

My Sales Pitch On ADVERTISING
Those Astronomical ATHLETE SALARIES
BUSINESS As Usual
Charging Up Your CREDIT CARDS (aka Plastic Money)
Stealing A Few Moments For CRIME
The Depths Of DEPRESSION
What Do You Have Against DISCRIMINATION?
The Crystal Ball Of ECONOMIC FORECASTING
Pumping Up The ECONOMIC GROWTH
A Random Walk Through Some ECONOMIC STATISTICS
Learning All About EDUCATION
Trading Some Ideas On EXCHANGE RATES
Getting Your Share Of FARM SUBSIDIES
Taming Our Beastly FEDERAL DEFICIT
Borrowing Through The FINANCIAL MARKETS
A Translation Of FOREIGN INVESTMENT
The Wide, Wide World Of FOREIGN TRADE
The Odds On GAMBLING
The Sick State Of HEALTH CARE
In The Neighborhood Of IMMIGRATION
Keeping The Lid On INFLATION
The Risky Business Of INSURANCE
Some Prime Stuff On INTEREST RATES
The Business About INVESTMENT
Gambling On A State LOTTERY
Packing Up For MIGRATION
A Tycoon Of The MUTUAL FUNDS
Conserving Our NATURAL RESOURCES
The Economics Of Dueling POLITICAL VIEWS
Scraping Up The POLLUTION
A Somewhat Defective Look At PRODUCT SAFETY
A Perfect Picture Of PROFIT
On The Lookout For A RECESSION
Laying The Groundrules On REGULATION
Shopping Around For RETAIL PRICES
Planning On SOCIAL SECURITY?
Fighting Business Cycles With STABILIZATION POLICIES
Playing The STOCK MARKET
Paying TAXES
Taking A Ride On TRANSPORTATION INFRASTRUCTURE
An Altogether Look at UNIONS
Creating WEALTH
Collecting WELFARE
A Careful View Of WORKER SAFETY
Getting The Most Out Of WORKING WOMEN

APLS

BLACK DISMALAPOD
[What's This?]

Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either car battery jumper cables or a dozen high trajectory optic orange golf balls. Be on the lookout for the happiest person in the room.
Your Complete Scope

This isn't me! What am I?

In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
"Difficulties mastered are opportunities won. "

-- Winston Churchill, Statesman

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A PEDestrian's Guide
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