The original version of this story appeared in Quanta Magazine. Imagine a town with two widget merchants. Customers prefer cheaper widgets, so the merchants must compete to set the lowest price.

Lauren (Hansen) Holznienkemper is a lead editor for the small business vertical at Forbes Advisor, specializing in HR, payroll and recruiting solutions for small businesses. Using research and writing ...

C‑SPAN’s America’s Book Club is a weekly primetime series hosted by acclaimed author, civic leader, and interviewer David M. Rubenstein. More Recorded at some of the nation’s most iconic libraries and ...