Day: December 2, 2012

Gold or Coal – a course in economics

Many friends are fascinated by my fascination with the Discovery TV series focusing on gold prospectors and/or coal miners (Discovery shows: “Alaska gold” or “Coal”). I watch each episode looking for the economic secrets of success/failure. The little details that make your operation profitable. . The natural resource is irrelevant. The secret is in the organisation of the production...
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