Entries Tagged 'Economics and Investing' ↓

Book Review – The 10 Rules of Successful Nations

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Word of the Day – Opportunity Costs – Pricing Drugs

Definition: Opportunity cost is the cost of choosing one option, i.e. accepting a job, planting one type of crop, or traveling to one country rather than another) when choosing a different option could’ve turned out to be more profitable.

Pricing Drugs by Using Opportunity Cost Theory

Did you know that U.S. Government Health Agencies are the chief funders of pharmaceutical Research and Development (R&D) in this country?

And! Private Equity firms and Publicly-held firms on NASDAQ buy into pharmaceutical R&D only during the final phase of research?

Our government gets nothing from these corporations for all of the free R&D research our taxes pay for on our behalfs.

Recently in the news, a small company was complaining that they had to turn over their patent rights to the CDC (Centers for Disease Control).

The company, expressing outrage, refused to share its patents. They wanted all the profits from their drug. Even though our government was funding them! (This, by the way, is what libertarian Public Choice economists call “rent-seeking”.)

This attitude is outrageous and absolutely antithetical to the way that copyrights and patents are supposed to work to promote creativity and innovative new products (or new uses of old products).

Academics once shared their knowledge freely with each other through many publications.

But now, our monoplistic Military, Industrial, and Academic Complex has taken over workers’ “intellectual property rights” in the name of defending profits that the “Complex” paid hardly any of the costs for. Continue reading →

The Introvert’s Edge – Book Review

Book Review of The Introvert’s Edge

The Introvert’s Edge: How the Quiet and Shy Can Outsell Anyone by Matthew Pollard with Derek Lewis (© 2018 Rapid Growth L.L.C (Published by AMACON: The American Management Association)

If you are an extrovert, don’t worry about the title of this book. It does include tips for you!

I had to smile when my most extroverted friend wrote this to me recently. It is something that most of us introverts know well by now:

“I’m loving the lock down. I had waaay too many responsibilities before. I even straightened a few of my drawers the other day. Such small improvements give me great satisfaction and happiness.”

Many extroverts and introverts are discovering or rediscovering the pleasures we introverts have enjoyed since birth – the freedom to be alone and focused solely on ourselves and what we want to do.

So, what do you, as a self-employed business owner, have to gain from this book? Continue reading →