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Cobweb model

…flies–the purge. This all sounds very, very “cobwebby” to me. It was Muth’s article criticizing the cobweb model that inspired Lucas’ “rational expectations revolution.” I am old enough to have…

Real world business for the economic buffs

…who will actually produce the item less money. This model of business is the predominate model of our economy. It is about gaining revenue by controlling access to the market…