Economics

Game theory is a fascinating field that studies strategic interactions where the outcome for each participant depends not only on their own decisions but also on the decisions of others. It originated in 1928 when John von Neumann analyzed parlour games and quickly realized that his mathematical approaches could be applied to economic problems and beyond. Von Neumann, along with Oskar Morgenstern, formalized these ideas in their seminal 1944 work, Theory of Games and Economic Behavior, laying the foundation for modern game theory.

Georgism is a philosophy and policy approach that proposes funding public needs through a tax on land value, reflecting the idea that land and natural resources are a shared inheritance. This approach seeks to reduce inequality, promote efficient land use, and replace less fair taxes.

This post explores the intersection of anarchism and libertarianism through the lens of decentralization. It examines how both ideologies advocate for individual freedom and skepticism towards centralized authority, highlighting their shared values and differences.

The Black-Scholes-Merton equation is a model for pricing options. This equation revolutionized finance by providing a precise method for determining fair option prices, improving risk management and trading efficiency.

This article compares Keynesian, Austrian, and Monetarist economic theories, discussing their core principles, historical origins, and key figures. It highlights Austrian economics as the closest to libertarian values and examines the influence of these theories on modern global economic policies.