EconAir

  The Causes of the American Revolution How the Colonials Won Creating a New Nation-State   Background America in 1775 was a very different English colony than in 1700. In 1700, America was a poor "country" compared to England. By 1775, America's total output was about 40% of England's. America's total output and population were growing faster. Besides providing raw material imports that England taxed and exported to other countries, America was becoming an important market for English manufactured goods. America also provided ships, shipbuilding, and sailors that could augment the British merchant marine  and navy in times of war. But England had to be careful. America  was a very different colony in 1775 than in 1700. Its population was much greater and more diverse. In 1700, almost all the white population in the 1600s came from England. But in the 1700s, about half of immigrants from England were convicts forced to serve long indenture terms in the American co...

Positive Externality You need to know three things about management and corporate finance: 80/20 Rule Opportunity Cost Compound Growth 80/20 Rule (Also called Pareto’s Law) This idea says that a relatively small percent of actions account for a relatively large percent of outcomes. Find and concentrate your efforts on the important influences on your business (and life). 20% of your customers account for 80% of your sales. 20% of your product line accounts for 80% of your sales and profits. Often, companies with a large product line with many variations find that 50% of their products account for over 90% of sales. An even smaller percent usually account for most of the profits. 20% of your SKUs account for 80% of your stockouts (and lost sales). 20% of your programmers account for 80% of the bugs in new programs. The percentages aren’t always 80/20. Some examples: McDonald’s accidentally learned that 10% of its customers accounted for 60% o...