Economics: Difference between revisions

Economics (view source)

387 bytes added , 2 April 2023

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 == Useful Economic vocabulary, models & theories ==
 === Cost ===
+* prospective cost
+** a cost of a transaction that may be avoided if action is taken
 * sunk cost
+** a cost of a transaction that has already been incurred, and is therefore irretrievable (can't be taken back)
 === goods ===
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 * the "prisoner's dilemma" represents a clash of individual versus group interests
 ** "dilemma" = a problem for which the solutions all reach a negative outcome
-*** as opposed to a "paradox"
+*** as opposed to a [[Paradox|"paradox"]]
-**** which is a problem that has no solution, the solution is never-ending, or the solution yields an outcome that negates the original problem
 * in the prisoner's dilemma, two prisoners must select between 1) confess to the crime or 2) remain silent
 ** each is held separately and does not know what the other will choose
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 === Tragedy of the Commons ===
+== Corporate governance ==
+=== ESG ===
+=== Shareholder Theory ===
+* for criticism of ESG and support of Shareholder Theory see: [https://www.theepochtimes.com/the-long-term-negative-effects-of-esg-will-be-catastrophic_5032320.html The Long-Term Negative Effects of ESG Will Be Catastrophic]
+=== Stakeholder Theory ===
 == Lesson Plans ==
 * [[Economics & ethics lesson plan|Economics & ethics lesson plan]]