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OPEC Inaction Spurs Survival of Fittest as Oil Below $65

OPEC Inaction Spurs Survival of Fittest as Oil Below $65 | microeconomics | Scoop.it
West Texas Intermediate crude rebounded after sliding to the lowest level since July 2009 on speculation that prices have further to drop before OPEC’s decision to maintain output slows U.S. shale supply.

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OPEC Inaction Spurs Survival of Fittest as Oil Below $65

OPEC Inaction Spurs Survival of Fittest as Oil Below $65 | microeconomics | Scoop.it
West Texas Intermediate crude rebounded after sliding to the lowest level since July 2009 on speculation that prices have further to drop before OPEC’s decision to maintain output slows U.S. shale supply.

Via EconMatters
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Economic complexity: A different way to look at the economy

Economic complexity: A different way to look at the economy - Foundations & Frontiers - Medium

By W. Brian Arthur; External Professor, Santa Fe Institute; Visiting Researcher, Palo Alto Research Center. 

Economics is a stately subject, one that has altered little since its modern foundations were laid in Victorian times. Now it is changing radically. Standard economics is suddenly being challenged by a number of new approaches: behavioral economics, neuroeconomics, new institutional economics. One of the new approaches came to life at the Santa Fe Institute: complexity economics.

Complexity economics got its start in 1987 when a now-famous conference of scientists and economists convened by physicist Philip Anderson and economist Kenneth Arrow met to discuss the economy as an evolving complex system. That conference gave birth a year later to the Institute’s first research program – the Economy as an Evolving Complex System – and I was asked to lead this. That program in turn has gone on to lay down a new and different way to look at the economy.


Via Alessandro Cerboni, Complexity Digest, NESS
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Fàtima Galan's curator insight, December 10, 2014 8:43 AM

"Where does complexity economics find itself now? Certainly, many commentators see it as steadily moving toward the center of economics. And there’s a recognition that it is more than a new set of methods or theories: it is a different way to see the economy. It views the economy not as machine-like, perfectly rational, and essentially static, but as organic, always exploring, and always evolving – always constructing itself."

Jason Leong's curator insight, January 2, 2015 11:34 PM

"Where does complexity economics find itself now? Certainly, many commentators see it as steadily moving toward the center of economics. And there’s a recognition that it is more than a new set of methods or theories: it is a different way to see the economy. It views the economy not as machine-like, perfectly rational, and essentially static, but as organic, always exploring, and always evolving – always constructing itself."

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G Scale Model Railroads, G Gauge, G Gauge Railroads

G Scale Model Railroads, G Gauge, G Gauge  Railroads | microeconomics | Scoop.it

The G Gauge Model Railways became popular in markets including America once the "Model Railroader" magazine printed an article inside 1972 upon LGB. The article was intended to educate the bulk on the improvements of the G Gauge Model Railway. However, the publicity additionally helped marketplace and drive demand for this particular G Gauge Model Railways.


Via Felipa Nealey
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What Happened The Last Time Oil Prices Crashed Like This? - Commodity Trade Mantra

What Happened The Last Time Oil Prices Crashed Like This? - Commodity Trade Mantra | microeconomics | Scoop.it
There's been only one other time in history when the price of oil crashed by over $40 in less than 6 months. The last time was during second half of 2008.

Via CommodityTradeMantra
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CommodityTradeMantra's curator insight, December 2, 2014 1:35 PM

OPEC is now engaged in a “price war” with the United States. If the price of oil stays at this level or continues falling, we will see a significant number of U.S. shale oil companies go out of business and large numbers of jobs will be lost. The Saudis know how to play hardball, and they are absolutely ruthless.

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Is This Emerging Market Really a Big Opportunity for Ford Motor Company? - Nasdaq

Is This Emerging Market Really a Big Opportunity for Ford Motor Company? - Nasdaq | microeconomics | Scoop.it
Bill Ford introduced the all-new Mustang in Dubai on the Burj Khalifa, the world's tallest building, while discussing expansion in Middle East and.

Via Kenneth Carnesi,JD
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Microeconomics [Ch. 13]

Microeconomics [Ch. 13] | microeconomics | Scoop.it
The Costs of Production

Via jon inge, Bruce Fellowes
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jon inge's curator insight, December 7, 2014 2:32 PM

excellent revision 

remember revision needs to be ongoing - holidays don't man ignoring the economic world around you, keep reinforcing what you have learnt - athletes dont just stop training and then come back and expect to work at full speed 

Bruce Fellowes's curator insight, December 7, 2014 3:21 PM

Useful for A2 students

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Danger below? Oil trains use 105-year-old tunnel below Seattle

Danger below? Oil trains use 105-year-old tunnel below Seattle | microeconomics | Scoop.it
Can a 1905 train tunnel under Seattle that does not meet modern safety standards be made safe enough? Do taxpayers pay the bill? Or do railroads and oil companies?

Via Pavlos Pappas
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The End Of OPEC - The Benefit of the Crude Oil Cartel is Gone - Commodity Trade Mantra

The End Of OPEC - The Benefit of the Crude Oil Cartel is Gone - Commodity Trade Mantra | microeconomics | Scoop.it
Let’s take a look at where we’ve been & where we’re headed. The road is paved for demise of the OPEC. Here’s the play by play happening in front of our eyes

Via CommodityTradeMantra
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CommodityTradeMantra's curator insight, December 5, 2014 1:57 PM

OPEC seems at a loss about how to cope with competition & is struggling to influence other big producers outside the organization like Russia & Brazil. Unable to come up with a strategy to handle these new developments, the cartel has decided not to intervene, hoping that low prices will eventually curb production in the US.