CNBC’s article on the “three black swans” [1] that Russia’s banks are apparently facing is a perfect example of getting the entire black swan concept wrong. Herman Gref is quoted as saying that Sherbank is facing “not one Black Swan but…
Tag: economics
Economies of Scale vs Scope
Two of the most valuable concepts in economics for entrepreneurs are about how growth can improve your bottom line: Economies of scale tell you how running a bigger business can increase your profit. Not just your total revenue, which is…