Merry Christmas! Wishing you a joyful holiday season, and thanks for continuing to follow along! Have you ever noticed that every December, something curious happens? Shops fill with harried parents, and casual workers are drafted into Santa’s supply chain. For a few short weeks, even the most tightfisted of consumers open their wallets, businesses scramble […]
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The Cantillon Effect
Richard Cantillon was a 17th century merchant and banker, as well as arguably the world’s first modern economist. He authored Essai sur la Nature du Commerce en Général (Essay on the Nature of Trade in General), which 19th century English economist William Stanley Jevons later referred to as the “cradle of political economy”. Cantillon’s most famous idea, the […]