Economics | Business - The Lancelot Lounge

Deflation in a World of Abundance: Rethinking the Role of Money in a Future of Near-Zero Marginal Cost

By Edward Franklin March 12, 2025Economics | Business, Politics | Society

In traditional economic theory, deflation is often viewed as a negative phenomenon. It's associated with falling prices, decreased consumer spending, and a potential economic downturn. However, this perspective is primarily…

The Illusion of Efficiency: Why Privatizing Prisons May Cost Us More Than We Think

By Edward Franklin March 10, 2025Economics | Business, Politics | Society

When governments outsource essential services like prisons to private companies, the promise is often efficiency and cost savings. The argument goes that private companies are driven by profit, so they…

Tit for Tat and the Triumph of Cooperation: Why Cooperatives Are Game Theory’s Winning Strategy

By Edward Franklin February 18, 2025Economics | Business, Politics | Society

Game theory, the study of strategic decision-making, offers a powerful lens through which to analyze the dynamics of cooperation and competition. One of its most intriguing findings is the surprising…

More Jobs Does not Always Mean More Solutions: Why We Need a New Definition of “Job”

By Edward Franklin February 18, 2025Economics | Business

The economy added 250,000 jobs last month!" These headlines often dominate news cycles, presented as a sign of economic health and prosperity. But what do these numbers truly represent? Are…

The Paradox of Insurance Competition: Why a Larger Risk Pool is Key

By Edward Franklin February 9, 2025Economics | Business

The conventional wisdom of economics suggests that competition drives down prices and benefits consumers. However, the insurance industry presents a unique paradox: while seemingly beneficial, competition can counterproductively affect effective…

The Economic Cost of Anxiety: A Silent Drain on Society’s Potential

By Edward Franklin November 20, 2024Economics | Business, Politics | Society

We often discuss anxiety and stress in terms of individual suffering, focusing on the emotional toll and impact on personal well-being. But what if we broadened the lens and examined…

The Wallet’s Whisper: Why Economic Incentives Will Drive Climate Action

By Edward Franklin November 1, 2024Economics | Business

We're bombarded daily with dire warnings about climate change. Melting glaciers, raging wildfires, and extreme weather events paint a grim picture of our planet's future. Appeals to our sense of…

Is Capitalism Eating Itself? How Corporate Giants Stifle Competition and Innovation

By Edward Franklin October 25, 2024Economics | Business

Capitalism, emphasizing competition and innovation, is often hailed as the engine of economic growth. But what happens when the very forces that drive capitalism start to undermine its core principles?…

The Sustainability Paradox: Are Long-Term Goals Just a Facade?

By Edward Franklin October 20, 2024Economics | Business

In recent years, sustainability has become increasingly important in business. Businesses are pressured to adopt sustainable practices that minimize their environmental impact and contribute to social good. However, there is…

How Marcus Aurelius’ Wisdom Cracks the Foundation of Economics: The Myth of Full Information

By Edward Franklin October 4, 2024Economics | Business

The Stoic philosopher Marcus Aurelius once said, "Everything we hear is an opinion, not a fact. Everything we see is a perspective, not the truth." At first glance, this may…