Monthly Archives: September 2013

Creative Destruction


Creative destruction essentially means an existing industry is being destroyed by a new one based on a new technology. This phenomenon has been occurring since old times, but much more pronounced in modern days. For instance, the invention of the … Continue reading

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The Multiplier Effect


Most businessmen understand the important aspect of production known as economy of scale. It means that as you produce more, the cost of each product will come down due to the existence of fixed capital or overhead cost. This fixed … Continue reading

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Peak Oil, Part I


Peak oil is a model invented by M. Hubbert in 1956 to predict the peaking of global oil production. It has accurately predicted that US production would peak between 1965 and 1971. Nevertheless, it has so far failed with the … Continue reading

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