Take a tour of economics from the freelance perspective. My objective is two-fold: provide a primer on basic economic theory and terminology for those not well versed in the dismal science (this may be helpful in your translations), and provide a fresh look at some core concepts reframed for the freelancer world (this may be helpful in understanding the translation business and how you can get the most out of it), all the while highlighting the difference between the macro and the micro (the fallacy of composition writ large). We’ll take an in-depth look at supply and demand, and what the slope of the curves and price elasticity really mean. In keeping with the “borderless” theme of the conference, we’ll look at the main factors that drive exchange rates, and why the experts are so poor at predicting them. We’ll also see how freelancers are (or should be) the ultimate example of comparative advantage in action, and consider whether the concept of a living wage applies to freelancers or anyone else, for that matter.