KEATING: A Short Course in ‘Robinson Crusoe Economics’
by MARYANN O. KEATING, Ph.D. Imagine, if you will, a small island economy; you may call it Pennsylvania, Virginia or Indiana. Assume that the population of the island is steady with 100 residents, two born and two dying each year. Sixty residents are in their prime years, working at home or in town; the remaining … Read more