economic principles

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Tipping servers still makes sense

The restaurant industry has suffered enormously from the pandemic and government restrictions.

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Fostering economic growth through ‘creative destruction’

The profit and loss system provides quick feedback on the quality of innovation.

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‘Creative destruction’ can help Canada recover from COVID recession

Barriers to entrepreneurship and innovation are significant in Canada.

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In a $19 trillion economy, the loss of a $70 billion industry just isn’t that big a deal.

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You get technological breakthroughs when trying to solve problems, often problems found in previous technology.

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Monday morning I was in class teaching the “Coase solution” to externalities problems, which is named after its discoverer, Ronald Coase, the Nobelist economist and one of very few humans ever to publish a book in his second century.