AI Advisory

Today, we’re digging into a concept that helps explain why certain services — such as college tuition, healthcare, or live theater — continue to increase in cost, even when their quality doesn’t appear to change. It’s called Baumol’s Cost Disease, and while the name sounds medical, it’s really about the economics of labor, productivity, and pricing. Let’s get smarter. What Is Baumol’s Cost Disease...

Today we’re tackling a principle that once dominated economic thinking — a phrase you’ve probably heard boiled down to: “Supply creates its own demand.” This is Say’s Law, a foundational idea in classical economics — and also one of the most hotly debated. Let’s get smarter.

This is the Law of Supply and Demand — the invisible force behind price changes, market movements, business strategy, and even what you pay for eggs. Let’s get smarter. What Is the Law of Supply and Demand? At its core, the Law of Supply and Demand explains how prices are determined in a market economy through the interaction of two forces: Demand: How much of a good or service people want at diff...

Today we’re revisiting a cornerstone of international economics. It’s a concept so simple in logic yet so powerful in implication that it underlies the entire modern global trading system. This is the Theory of Comparative Cost — and it explains why countries, companies, and even individuals should specialize in what they do best, even if they’re better at everything. Let’s get smarter. What Is th...

Today we’re exploring a foundational model that tries to answer a huge question: What drives long-term economic growth? It’s called the Solow Growth Model, and it’s one of the most important tools economists use to understand why some countries grow rich, while others stay poor — and what it takes to sustain prosperity over time. Let’s get smarter. Why Study Growth? In economics, we care a lot abo...

today we’re looking at a concept that’s as provocative as it is controversial — a theory that asks: Does inequality get worse before it gets better? It’s called the Kuznets Curve, and it’s been central to debates about growth, fairness, and whether rising prosperity naturally leads to a more equal society. Let’s get smarter. What Is the Kuznets Curve? The Kuznets Curve is a graphical hypothesis th...

Today we’re diving into a concept that transformed not only economics, but also political science, business negotiations, and military planning. It’s called the Nash Equilibrium, and it explains why — in many strategic situations — people don’t necessarily choose the best overall outcome… but instead settle on a stable one, even if it’s suboptimal. Let’s get smarter. What Is a Nash Equilibrium? A...

What Is the Phillips Curve? The Phillips Curve is a graphical representation of the inverse relationship between inflation and unemployment. In its original form, it suggests that: When unemployment is low, inflation tends to rise. When unemployment is high, inflation tends to fall. The idea is that tight labor markets drive up wages, which in turn push up prices — leading to inflation. Conversely...

today we’re going back to one of the foundational ideas in classical economics. It’s a theory that explains why some land is more valuable than other land, why landlords profit even without improving anything, and why inequality in resource ownership can persist for centuries. This is David Ricardo’s Theory of Rent — a simple, elegant model that reshaped how we think about land, location, and econ...

What Is Creative Destruction? The phrase was popularized by economist Joseph Schumpeter in the 1940s. In his book Capitalism, Socialism and Democracy, he described capitalism as a system of constant upheaval — where new innovations relentlessly destroy old ways of doing things. His exact words? “The process of industrial mutation... incessantly revolutionizes the economic structure from within, in...

I’m David Peterson from the DMP Strategy Group, and today we’re turning back the clock to explore one of the most influential — and, in many ways, controversial — economic theories of the past 200 years. This is Malthusian Theory, and it’s all about a fear that has haunted societies for centuries: What happens when population growth outpaces the food supply? Let’s get smarter.

Welcome to another insightful episode of Smarter in 10, where we explore the transformative power of the 10-year question. Host David Peterson of the DMP Strategy Group introduces a pivotal shift in career thinking. Instead of being trapped in short-term cycles, learn to shape your professional and personal life by envisioning where you want to be in a decade. The episode unfolds key strategies us...

Welcome to another episode of Smarter in 10, where big ideas meet eager minds. This time, David Peterson from the DMP Strategy Group explores the concept of building a career moat, an essential strategy for safeguarding and enhancing your value in the fast-evolving job market. Discover how to construct your personal moat by developing a unique combination of skills, reputation, network, adaptabili...

today we’re talking about a subject that sits at the heart of your working life: how to find work that actually fits you — not just your résumé, not just your bills, but you. It’s called The Career Compass, and the goal today is not to give you a magic answer, but to help you ask better questions. Because until you get the questions right, you’ll never get the career right. Let’s dive in. 🧭 Why M...

Today we’re tackling one of the most controversial and politicized ideas in economics: a concept that’s been used to argue for lower taxes, stimulate growth, and at times — let’s be honest — oversimplify fiscal policy. It’s called the Laffer Curve, and it asks a bold question: Can raising taxes actually reduce revenue? Let’s get smarter.  

We’re talking about Behavioral Economics — and more specifically, how nudges can help steer decision-making without restricting freedom. This is the science behind why you choose the salad or the fries, why you sign up for retirement savings or don’t, and how small design tweaks can have outsized effects on behavior. Let’s get smarter.

What happens when everyone acts in their own self-interest with shared resources? In this episode, we explore the Tragedy of the Commons - a fundamental concept that explains everything from overfishing and climate change to traffic congestion and office kitchen etiquette. Discover why rational individual choices can lead to collective disaster, learn about real-world examples that affect your dai...

Monetarism is a macroeconomic theory that emphasizes the importance of money — specifically, the supply of money — in determining a nation’s economic health. The central claim? “Inflation is always and everywhere a monetary phenomenon.” That’s economist Milton Friedman, the intellectual father of Monetarism. Friedman argued that when a central bank increases the money supply faster than the econom...

Today we’re diving deep into one of the most elegant and misunderstood concepts in economics — a theory that justifies global trade, shapes how countries structure their economies, and even offers insight into how you should manage your time and career. It’s called Comparative Advantage, and it’s far more than a textbook concept — it’s the economic engine behind international cooperation, speciali...

Modern Monetary Theory is a bold rethinking of public finance. It says the real constraint on government spending isn’t money — it’s resources and inflation. Taxes don’t fund spending; they manage demand. Deficits aren’t inherently bad; they’re just the difference between what the government injects and what it takes out. Whether you see MMT as a dangerous fantasy or a necessary evolution, one thi...

Today we’re diving into a concept that sits at the heart of modern finance — a theory that challenges your favorite investing guru, calls into question Wall Street’s smartest traders, and even suggests that stock-picking might be a fool’s errand. It’s called the Efficient Market Hypothesis, or EMH — and it asks one provocative question: Can you actually beat the market? Let’s get smarter. 📈 What...

It’s called Game Theory — and once you understand it, you’ll start to see strategic games playing out everywhere. Let’s get smarter. 🎯 What Is Game Theory? Game Theory is the study of strategic interaction. It’s the science of decision-making when your outcome depends not just on what you do — but also on what someone else does. In other words, it’s not just about choosing the best option. It’s a...

Today, we’re diving into a school of economic thought that champions freedom, distrusts central planning, and sees recessions not as problems to be solved — but as necessary corrections. This is Austrian Economics, a perspective rooted in individual choice, sound money, and skepticism toward government interference. Let’s get smarter. To understand Austrian economics, we need to start with its ori...

Today, we’re diving into a theory that transformed modern economics, changed how governments handle recessions, and explains why sometimes… the best way to save the economy is to spend, spend, spend. It’s called Keynesian Economics — and whether you realize it or not, it affects your paycheck, your taxes, and your job security. Let’s get smarter.

The Economics of space travel