Is Competition That Important? Can’t We Just Play Fair?

Is Competition That Important? Can’t We Just Play Fair?

Caitlyn Jones, Honorbound. The answer is no. We in fact cannot, and should not, play fair. In economics, “competition” is the rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume by varying price, product, distribution, and promotion. Competition is crucial in our economy because it forces lower prices, … Continue reading

Is Human Capital Truly Fair?

Is Human Capital Truly Fair?

Sara Sebastian ’18 So let’s start this off by asking the question, what is human capital? According to Charles Wheelan in his book Naked Economics, human capital is “the sum total of skills embodied within an individual: education, intelligence, charisma, creativity, work experience, entrepreneurial vigor, even the ability to throw a baseball fast. It is … Continue reading