American Christianity has been using the parable of the minas to encourage business owners to maximize profits, and pay tithes on those profits. While earning my BBA in entrepreneurship from America’s largest Baptist university I certainly heard my share of… Read More ›
If you want to be inspired by God – ask Him to reveal ways to generate more value than you extract. That is what your business is for – to generate more value than it extracts. God will inspire business… Read More ›
Radiant energy is the energy of electromagnetic waves. Now, I am not a physicist. I don’t even play one on TV. But, in my limited understanding, visible light is electromagnetic radiation that is visible to the human eye and responsible… Read More ›
In physics, energy is subject to the law of conservation of energy. The use of the term “conservation” could be confusing as the idea of conserving energy by “saving gas” is a common phrase, but technically incorrect. According to this… Read More ›
Yesterday’s post introduced the biological concept of “interference competition,” and compared big antlers with big bonuses. Today, I want to describe another form of competition recognized by biology. Exploitation Competition: A form of competition wherein organisms indirectly compete with other… Read More ›
What role does scarcity and competition play in the development and survival of a species. Many assume that the competition for scarce resources always makes a species more fit. According to Darwin’s theory, natural selection does favor the traits and… Read More ›
Behavioral economists and psychologists have identified the scarcity heuristic as a mental shortcut whereby people place value on an item based on how easily it might be lost, especially to competitors. The scarcity heuristic does not only apply to a… Read More ›
In modern terms, economics is commonly defined as: the study of human behavior as a relationship between ends and scarce means. Simply, an analysis of human behaviors affected by the influence of scarcity. At the heart of this blog is… Read More ›
Mitch Cowart 