From Candles to Kilowatts: A Journey Through Time Prices in Economics 2024

Overview

The single greatest breakthrough in 21st-century economics is the comprehensive and creative translation of prices into time-time prices. They calculate hours and minutes needed to earn money to buy goods and services. They are unequivocal and universal. What has happened to the time prices of the commodities we purchase daily? Join Ron and Ed to explore this dynamic new measurement of economic well-being throughout history.

Highlights

• The Simon Abundance framework
• The ratio of resources to population
• There's no such thing as a natural resource
• The correlation between population growth and the increased standards of living

Prerequisites

None

Designed For

Anyone looking to understand current economics and pricing science and strategy.

Objectives

• Determine and calculate how time prices have decreased since 1850
• Recognize how all sources of measurement are rooted in time
• Identify why time prices make more sense than money prices to measure real standards of living

Preparation

None

Notice

This course is offered by a 3rd party vendor. Login instructions will not be accessible in the My CPE Tracker section of the ISCPA website. Login instructions will be emailed directly to you by California Education Foundation (CalCPA).