New Principles of Economics set to reshape global wealth distribution
The article "Principles of Economics" discusses various fundamental concepts in economics, such as wealth, production, consumption, and the agents of production like land, labor, and capital. It also explores the relationship between demand, supply, and value in markets. The researchers analyze how wants are satisfied, the distribution of national income, and the theory of monopolies. Key findings include the importance of equilibrium between demand and supply, the impact of increasing returns on costs, and the role of industrial organization in wealth growth.