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Olduvai III: Catacylsm
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Despite Soaring Prices the Oil Industry Stands To Lose

Despite Soaring Prices the Oil Industry Stands To Lose The true cost of energy is not measured in dollars Image source The days of Big Oil are numbered. Contrary to modern beliefs it is not going to be killed by the environmental movement, court decisions or conscious investment choices. There is a more hideous process […]

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Does Subjective Valuation Mean Arbitrary Valuation?

DOES SUBJECTIVE VALUATION MEAN ARBITRARY VALUATION? Why do individuals pay much higher prices for some goods versus other goods? The common reply to this is the law of supply and demand. However, what is behind this law? To provide an answer to this question economists refer to the law of diminishing marginal utility. Mainstream economics […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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