Table of Contents

Ethics, Economy & Entrepreneurship

  • Introduction
    • Why Ethics?
    • Why Economy?
    • Why Entrepreneurship?
  • Part 1: Key Concepts
    • 1 TRADE
    • 2 RESOURCES
    • 3 COST
    • 4 INSTITUTIONS
    • 5 VALUE
  • Part 2: Understanding Trade
    • Progress
    • Production Possibilities Curve
    • Comparative Advantage
    • Division of Labor
    • Why trade?
    • Conditions for Trade
    • Buyers
    • Sellers
    • A Market: Supply and Demand
    • Influences on Predicted Price and Quantity
    • Surplus in Markets
    • Price Signals and Decision Making
    • Price Controls
    • Economic Science: Putting the theory to the test
    • Progress and Wealth Creation
  • Part 3: Trust, Agency and Bystanders
    • Principal-Agent Framework
    • External Cost
    • Tragedy of the Commons
    • Property
    • Trust
    • Benefits for Bystanders
    • Market Structure and Market Power
    • Monopoly Power
    • Monopsony Power
    • International Trade and Trade Protection
    • What Should Not Be for Sale
  • Part 4: Economic Institutions
    • Institutions of Commercial Society
    • Fractional Reserve Banking
    • Measuring Economies
    • Gross Domestic Product (GDP)
    • Unemployment Rate
    • Price Level – CPI, GDP Deflator
    • Fiscal Policy
    • Monetary Policy
    • Public Choice
    • Knowledge Discovery
  • Part 5: Innovation
    • It takes more than ideas
    • What Innovation Looks Like
    • Long Run and Short Run Thinking
    • ADVANCED: Theory of Production, Supplier Cost Curves
    • Entry, Exit, and the Role of Profit
    • Creative Destruction
  • Part 6: A Business and Personal Finance Primer
    • Accounting Basics
    • Credit and Compound Interest (growth)
    • Financial Ratio Analysis
    • Break-Even Analysis
    • Marketing Fundamentals
    • Insurance
    • Budgeting
  • Part 7: The Entrepreneur
    • The Entrepreneur as a Resource Integrator
    • Entrepreneurship as an Effectual Process
    • Markets Don’t Exist
    • Creating Value
    • Competitive Advantage - The dynamics of remaining viable
    • The Big Errors
    • The Entrepreneurial Life
    • Appendix A – A primer on graphs