Superabundance

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Light brown kitchen cabinetry and brick tile back splash trim
Image Credit: Iriana Shiyan - Adobe Stock

Housing Amenity Abundance

1956 was a remarkable year. Some have suggested it was the golden year for housing, but the facts tell a much different story. Jeremy Horpendahl did an analysis on housing amenities and found the following... Read More ›
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panoramic view of reykjavik at wintertime, iceland
Image Credit: Marc Jedamus - Adobe Stock

Iceland: More Entrepreneurs or More Bureaucrats?

For Iceland to thrive, it must continue to unleash its creative energy—to innovate, to speak, and to let knowledge flow as freely as its geothermal springs. Iceland is proof that wealth is not in the ground but in the mind. When faced with the scarcity of matter, Icelanders discovered the infinite power of knowledge. Read More ›
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Large modern warehouse with forklifts and stack of car tires
Image Credit: sirisakboakaew - Adobe Stock

Tire Abundance

Walmart sells the Goodyear Reliant 195/60R15 88V All-Season Tire for $77. Unskilled workers today are earning around $17.17 an hour, indicating a time price of 4.46 hours. For the time it took to earn the money to buy a single tire in 1920, you get 20 of them today. Read More ›
alarm-clock-and-dollars-close-up-time-is-money-gray-alarm-cl-210886934-stockpack-adobestock
Alarm clock and dollars, close up. Time is money. Gray alarm clock on money banknotes Dollars, concept of business planning and finance. Finance concept with alarm clock and money in jar
Image Credit: jollier_ - Adobe Stock

We Should Measure Prices in Time

How can the laws of enterprise and business consulting diverge so significantly from the accepted wisdom of economic analysis and political rhetoric? More baffling, how is it that products are becoming simultaneously more expensive and more affordable? This paradox is possible because while we buy things with money, we actually pay for them with our time—not in dollars and cents but in hours and minutes of work. Read More ›
account-photo-of-a-luxury-cruise-ship-sailing-in-the-open-se-853460363-stockpack-adobe_stock
Account photo of a luxury cruise ship sailing in the open sea at sunset
Image Credit: zaen_studio - Adobe Stock

Cruise Ship Billionaires

Adjusted for inflation, the Icon of the Seas cost 55 times more to build than the Mardi Gras but passengers pay 23 percent less to enjoy. How is this possible? Two words: people and knowledge. More people create larger markets. With a larger market, projects that require a high development or fixed cost become feasible because you can now spread these costs over lots more customers. Read More ›
copper-ore-stockpack-adobe-stock-345481448-stockpack-adobe_stock
copper ore
Image Credit: Sebastian - Adobe Stock

The Abundance of the Five Metals in the Simon-Ehrlich Bet

Between 1900 and 2000, global population grew by 400 percent, from 1.6 billion to 8 billion. During the same period, the production of the five metals soared: chromium increased by an astounding 78,082 percent, copper by 4,062 percent, nickel by 26,918 percent, tin by 226 percent, and tungsten by 4,829 percent. On average, production of these metals rose by an extraordinary 22,823 percent. Read More ›
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Young woman cycling in the park at sunset
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Things Used to Cost Less but They Were Much More Expensive

We buy things with money, but we pay for them with our time. This means there is a money price, which is expressed in dollars and cents, and a time price, which is expressed in hours and minutes. A time price is simply the money price divided by hourly wages. Take, for example, the bicycle. Read More ›
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Round salted cracker cookies in wooden bowl putting on linen and wooden background.
Licensed via Adobe Stock

Ritz Abundance

Joseph (Jake) Klein recently wrote a great article about Ritz Crackers. He notes that they were introduced in 1934 at a price of 19 cents for a one pound box. There are around 8.75 crackers per ounce so a 16-ounce box would yield around 140 of the tasty wafers. Ritz outsold every other cracker their first year on the market. Read More ›