This paper clarifies roundaboutness. It proves that BB has confused it with time. It is time that is needed to produce some output, not roundaboutness to produce some input, be it called capital or otherwise. It also corrects the misunderstanding that more stupid people or machines get higher reward

While some think printing money, as a policy, is powerful, and while some do acknowledge that it inflicts inflation, only a few see its devastating consequences on wealth redistribution, which, to certain extent, can lead to famine and kill many people

Speed limit is imposed for some purposes: oil saving and safety, for example. This paper proves that none is justified. Speed limit reduces road capacity, or equivalently stated more roads are needed for the same traffic flow. This paper shows how traffic economists have misunderstood the...

Many people are obsessed with the traditional exchange theory, especially with the one that depreciation helps a country's export. This paper proves that such policy is a colonial thinking to exploit the indigenous people. Since depreciation prerequisites printing money, such policy inflicts...

This paper disproves Hick's compensation principle. It shows that compensation is wilful and wrong. Compensation, like intervention, is non-economics. Instead, this paper suggests using one of the products as input to produce another as output, for profit

This paper shows that any attempt to deviate from the basic bargaining line is doomed to fail. The Cournot attempt results in undistributed pie, while the Rubinstein-Binmore one in insufficient distribution. Discount rate may be important to bargaining, but game theorists have not been...

This paper proves that Rubinstein's bargaining theory is completely wrong. Using the Edgeworth box to solve the bargaining problem requires two pies. A reduced Edgeworth box may contain one pie, but it requires someone smarter than Ricardo to work out a common terms of trade. Rubinstein's...

This paper offers a historical account of competition theories in economics. It shows that most, if not all, of these theories do not offer winning strategy. It encourages students of economics to search for new, definite but honest winning strategy in competition

Nash (1951) claimed that every game must have a solution, even if it means a mixed strategy. His method is to find a probability that equalizes the two expected payoffs. Though simple, the calculation can be tedious. To avoid unnecessary mistake, this paper works out an algorithm to do the...