In this blog post, we will compare the structural differences between perfectly competitive markets and monopolistic markets, as well as their price formation mechanisms and respective pros and cons in terms of efficiency and fairness. In a perfectly competitive market, where there are numerous buyers and sellers and goods are assumed to be homogeneous, both buyers and sellers simply...
Infrared sensors are a technology that goes beyond simple lighting to provide safety and convenience. How are these sensors, which utilize superconducting materials, transforming our lives? In this article, we’ll explore the principles behind infrared sensors and their various applications. After finishing my school classes as usual, I had dinner and returned to my empty apartment. Though...
In this blog post, we’ll examine the evolution of storage media used to store computer files, focusing on the pros and cons of each medium—particularly the trade-off between reliability and convenience. Introduction: A CD from My Memories I’ll start this post with an anecdote that brings to mind the phrase, “Those were the good old days…” There was an incident where I secretly burned a...
The minimum wage is a contentious issue where efficiency, equity, and values collide. In this blog post, I will explore where to strike a balance from both academic and value-based perspectives. The Minimum Wage Debate One common misconception the public has about economics is that “economists dislike the minimum wage system.” While a 1992 survey showed that 79 percent of respondents...
In this blog post, we examine the problems with the current system of evaluating scientific research, which centers on the Journal Citation Index, and consider whether it accurately reflects the true value of research. In the scientific community, researchers’ qualifications and the importance of their papers are evaluated using the “journal impact factor.” However, criticism of this...
Materials engineering is the field of study that examines all the materials around us and develops materials with new functionalities. It plays a pivotal role in various industries—such as semiconductors, batteries, and medical materials—and drives innovative technological advancements. When I entered college and met people around me, I was always asked what my major was. When I answered...
In this blog post, we take an in-depth look at whether talent is an innate ability or something that can be developed through consistent effort. Which comes first: talent or hard work? “First, you have to have talent. Then comes training.” These are the words of Ernest Miller Hemingway. Whenever we face a difficult challenge, we’ve all probably asked ourselves this question at least once:...
In this blog post, we’ll explore how talent and effort influence personal growth and success, and how these two elements can be balanced. People often say that talent is an innate trait, while effort is an acquired one. This perception leads us to view talent and effort as contrasting concepts. However, it is worth considering whether this dichotomous approach is truly accurate. Let’s...
In this blog post, we take an interesting look at how small but powerful calcium carbonate is used in both everyday life and industry. What do chalk, newspaper, and toothpaste have in common? They all use calcium carbonate as a raw material. Making chalk white and soft, creating a smooth surface on newspaper that’s ideal for printing, and polishing teeth—all of these are the roles of...
In this blog post, we’ll explore the concept and benefits of natural fermentation, as well as why it’s emerging as a healthy dietary trend. As South Korea has become more economically prosperous, interest has shifted from food that simply satisfies hunger to food that promotes health. People are now looking beyond basic ingredients to find foods that benefit their bodies and quality of...