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About Permissions

People frequently want to know what is permitted use of this material. All material in these pages is copyright by Robert Schenk 1997-2011 and earlier dates and copyright to most of this material has been registered with the Library of Congress. If you would like to use this material in a way that would be permitted with an article from The Wall Street Journal or The New York Times, you do not have to ask. If you want to use the material in a way that you would have to ask permission if it were from The Wall Street Journal or The New York Times, then you should ask me, the author and copyright holder, as well. There some exceptions, however. If you are using this material in a classroom setting, either as a teacher or student, and do not charge for it, you may copy and distribute it in printed form. Please, however, include a citation of the source. Linking is free and encouraged--you do not need to ask.

Any commercial use of this material is prohibited without the author's permission. Also, you do not have my permission to load any of this material on another server and let others view the material from that server.

About the Author

Robert Schenk (PhD, University of Wisconsin-Madison, 1977) taught undergraduate economics from 1970 until 2010. Now Professor of Economics Emeritus at Saint Joseph's College-Indiana, he has published papers in a number of economic journals, including the Journal of Money, Credit, and Banking, the Journal of Economic Education, Public Choice, and the Journal of Economic Literature.

The author welcomes comments and suggestions about design, flow, approach, mistakes, typos, etc.

He can be reached by e-mail at schenk at

About the Ornament

You may wonder if there is any significance to the twelve-pointed star with interwoven lines that occurs on some pages. It seems an appropriate ornament for an economics textbook. If you start at any point and follow the line, assuming that the line can go over and under other lines, you will eventually trace the complete figure and end back where you started. Everything is connected to everything else, and so are things in economics, often in strange and unusual ways. Mostly, though, I include it because it adds visual appeal to some pages that need visual appeal. I suspect that many of the graphics in printed textbooks are there for the same reason.

About the Ads

While you are wondering about things, you may have questions about the advertisements on the site, such as the one at the bottom of this page. I am an economist who makes decisions by weighing costs and benefits--I respond to incentives. The ads earn me a little bit of money and that bit of money encourages me to spend time updating and correcting things on the site. It also pays the hosting costs so that this site can remain available and free to anyone who wants to use it. I hope the ads are not annoying; I have tried to place them unobtrusively. With a very few exceptions, I do not control what ads appear nor do I necessarily approve or endorse any of the products or services that the ads promote. By the way, if you would like to advertise on this site, contact me and we will see if a mutually-advantageous trade, which economics assure us is a positive-sum interaction, can be arranged.

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