production - Economics Students Society of Australia

production

A collection of 6 posts

“Water you going to do about it?”

“Water you going to do about it?”

What would happen if our demand for a commodity changed depending on how we used it? Prices of goods are theoretically determined by where the cost of supply intersects with demand. And as you learn in ECON101 ideally this will lead to the efficient allocation of resources to the benefit

Hollywood's cinematic supremacy

Hollywood's cinematic supremacy

ESSA presents some facts and figures to investigate whether Hollywood’s perceived dominance holds on all fronts of film production and sales.

Australia's fast fashion revolution

A grandiose invite-only launch party, performers flown in from California and a queue of thousands eagerly waiting for its doors to open – H&M’s recent opening in Melbourne was nothing less than a spectacle. The fanfare surrounding the Swedish fashion powerhouse’s launch in Australia was reminiscent of that

Reading Hayek: liberty, capitalism and Austrian economics

austrian school

Reading Hayek: liberty, capitalism and Austrian economics

Friedrich von Hayek (1899 – 1992) was a Nobel-prize winning economist and one of the most influential thinkers in politics and economics of the 20th century. He is famous for his work on what is commonly referred to as supply side or Austrian Economics: an alternative to ‘mainstream’ Keynesian business cycle

3D Printing – The next ‘revolution in manufacturing’?

3D Printing – The next ‘revolution in manufacturing’?

Hailed by ‘The Economist’ as catalyst of ‘the third industrial revolution’, 3-D printing, also known as additive manufacturing, looks set to have a significant impact on manufacturing in the near future. What exactly is this technology, touted as the ‘next revolution in manufacturing’? 3D printing is the process of creating

Globalisation

By Collin Li My opinion is that globalisation is essential for dealing with poverty. While programs like World Vision’s Area Development Program may be helpful, I would argue they are only a small part of the effort in relieving poverty, because while the motive may seem more pure, it