On Remembering Auschwitz and the Holocaust

Yesterday was the 70th Anniversary of the Liberation of Auschwitz. It is a day of indescribable mourning for those who survived the Holocaust; a day of atonement for those who perpetrated it; and a day of awareness for those who choose to believe it never happened. In the years leading up to Holocaust, the Jewish… Read More

Off Topic: How Rent Works in Fisheries

In economics, the term “rent” is often confused with economic profit. Profit (π) can be measured over the short-term or the long run. In the short term, profit is equal to total revenues minus total costs of production (π=TR-TC). Over the long run, marginal costs accumulate and matter more than short-term profits. This applies to… Read More