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Economies of Scale

In many industries, as output increases, the average cost of each unit produced falls. One reason is that overheads and other fixed costs can be spread over more units of output. 

 

Roger Garrison - Macroeconomics of Capital

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Debunking the "Shop Small Saturday" Rationale

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As long as it's peaceful, shop wherever you like. That includes buying local, "shopping small," or buying materials and making your own gifts. But please: don't feel guilty about holiday shopping at a big box. A lot of people are selling fallacious thinking. Events like "Shop Small Saturday" can be just another form of rent seeking.

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December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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