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In their 1981 paper, Joseph Stiglitz and Andrew Weiss demonstrated to a broad audience that increasing interest rates does not guarantee higher profits for lenders in the presence of
APIs, or Application Programming Interfaces, allow programs to share data in a standardized format. This allows a wide range of software to share information and provide information to users from a wide variety of sources. For example, multiple apps can draw information from a common source using APIs, allowing millions of consumers to get data from a cen...
Most people are relatively familiar with the concept of a monopoly, where a single firm holds all, or almost all, of the market share in an industry. This dominant firm, a single seller, has tremendous power because consumers lack suitable substi...
Who is responsible for policing the Internet? Freedom of speech is a popular concept, but quickly runs afoul of differing opinions of all sorts. Parents want to keep the Internet appropriate for children, women and minorities want to ban sexist and racist speech, and religious conservatives want to prevent idolatry or blasphemy. In a free market economy, is ...
Sometimes, the flat monthly fee just allows you to get your foot in the proverbial door. You discover that, to do much of anything, you have to pay per-use fees. Increasingly, online subscription services are moving to this hybrid model of a low monthly fixed fee plus individual charges for content. Why the evolution away from the all-content-covered subscri...