Economics | Business - The Lancelot Lounge

The Future of Work: Necessity or Legacy?

By Edward Franklin April 21, 2024Economics | Business, Random Thoughts | Theories

Imagine a world where robots handle mundane tasks, AI tackles complex problems, and humans can pursue their passions. It sounds utopian. Rapid advancements in automation and artificial intelligence fuel this…

Reimagining the Economy: Could a Nonprofit Model Reduce Inequality?

By Edward Franklin February 26, 2024Economics | Business

The traditional capitalist model, driven by profit-seeking enterprises, has undoubtedly generated wealth and innovation. However, this system has also exacerbated income inequality and social disparities. What if we explored a…

Rethinking Drug Legalization: A Path to a Safer Society

By Edward Franklin October 31, 2023Economics | Business

The debate over drug legalization has raged on for years, with passionate arguments on both sides. One perspective to consider is the potential benefits of legalizing all drugs. In this…

The Government Budget is Not a Household Budget: Debunking a Common Fallacy

By Edward Franklin October 27, 2023Economics | Business

One of the most enduring metaphors in public discussions of government finance is the comparison between the federal and household budgets. The argument goes like this: "Just as households must…

Behavioral Economics and How We Might Use It to Overcome Our Evolutionary Biases

By Edward Franklin October 26, 2023Economics | Business

Evolutionarily speaking, we are wired to seek immediate rewards. This is because our ancestors lived in environments where resource s were scarce and unpredictable. As a result, they evolved to…