For a representative republic, like the United States, to function as intended, citizens need to be able to vote for politicians who represent their own, subjectively determined, interests. Today, most rely on the news media to inform them, but,
Thorstein Veblens’ Theories of Consumption and Social Stratification Have Been Affirmed Over Time
The Theory of the Leisure Class: An Economic Study of Institutions (1899) was written over a hundred years ago, but the assertions made still hold true today. Veblen’s thesis was influenced by the zeitgeist of the turn of the century;
Concentration Ratio of Firms Within an Industry
In the broadest terms, a concentration ratio is the amount of the total output of an industry generated by a given number of firms. This is important in Microeconomic theory, as competition between firms, or lack thereof, defines how
Engel Curve: Median Income and Spending on Motor Vehicles and Parts (by State)
My Engel Curve attempts to examine the relationship between median household income (by state), and per capita consumption spending on motor vehicles and parts. The median household income by state is taken from a 2010 report by the Census Bureau,