Aug
27
Nothing is free in an exchange-based economy
- August 27th, 2009
Barbara Kahn, Dean of the School of Business Administration at the University of Miami, appeared on Nightly Business Report August 25, 2009 to comment on the new book “Free: The Future of a Radical Price” by Chris Anderson. Kahn rightly points out that even when consumers seem to be getting goods and services for free, [...]
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Aug
20
Twitter’s “Tragedy of the Commons”
- August 20th, 2009
The “tragedy of the commons” (Garrett Hardin, 1968) is a concept in economics that describes how a group of self-interested individuals can destroy a shared (and free) resource. Hardin’s classic is example is a group of herders who destroy a pasture as each herder maximizes his/her number of grazing cows to make the most use [...]