Part 3. Money Following our discussions of the Division of Labor and Trade (Part 2), the next building block we will introduce is Money. So what happens when there is a Division of Labor and Trade? People start to barter with one another with the Outputs (i.e. …

Part 2 — Division of Labor and Trade — This is Part 2 of my seven-part series of “A First Principles Framework to Economics and Finance”. For Part 1 — Assets, Labor, and Technology, read here. Part 2. Division of Labor and Trade Now that we have discussed the basics of how the Economic Production Process works (by using Technology to apply Labor to Assets to…

Preamble & Part 1 - Assets, Labor, and Technology — Preamble It’s been a full year since I wrote my piece “What’s To Be Optimistic About 2021?” I wish I could write more. Still, I would like to share the following piece with you. While I initially thought about writing a piece similar to last year on looking ahead to 2022…